Pacific Crest Initiates Coverage on Cray to Overweight

Pacific Crest Initiates Coverage on Cray(NASDAQ:CRAY). The shares have been rated Overweight. The rating by Pacific Crest was issued on Jul 28, 2016.

In a different note, On May 4, 2016, Needham said it Downgrades its rating on Cray. The shares have been rated ‘Hold’ by the firm. On May 4, 2016, Craig-Hallum said it Downgrades its rating on Cray. In the research note, the firm Lowers the price-target to $40.00 per share. The shares have been rated ‘Hold’ by the firm.

Cray (CRAY) shares turned negative on Thursdays trading session with the shares closing down -0.78 points or -3.58% at a volume of 23,57,491. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22. The peak price level was also seen at $22 while the days lowest was $20.63. Finally the shares closed at $21.03. The 52-week high of the shares is $43.79 while the 52-week low is $18. According to the latest information available, the market cap of the company is $857 M.

Cray(CRAY) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $105.55M. Analysts had an estimated revenue of $100.80M. Earnings per share were $-0.13. Analysts had estimated an EPS of $-0.25.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Stephen C Kiely (director) sold 2,102 shares at $31.00 per share price.Also, On Feb 24, 2016, Charles Daniel Fairchild (VP, Corp. Controller & CAO) sold 16,545 shares at $40.85 per share price.On Feb 22, 2016, Sally G Narodick (director) sold 15,000 shares at $41.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Cray Inc. designs develops manufactures markets and services the high-performance computing (HPC). The Company markets supercomputers and provides storage and analytics solutions. It also provides software system maintenance and support services and engineering services related to supercomputer systems. The Company operates through segments which include Supercomputing Storage and Data Management Maintenance and Support and Engineering Services and Other. It provides three models of customer-focused solutions: integrated supercomputing and storage solutions with tuned software; commodity-based cluster supercomputing and storage solutions and turn-key analytic solutions featuring industry standards and graph technologies. The Company offers its solutions by combining supercomputing cluster storage and analytics technology. Its customers include domestic and foreign Government and Government-funded entities academic institutions and commercial entities.

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