Noteworthy Price Action: Is Cray Inc.’s Fuel Running Low? The Stock Reaches 1 Year Low Today

Noteworthy Price Action: Is Cray Inc.'s Fuel Running Low? The Stock Reaches 1 Year Low Today

The stock of Cray Inc. (NASDAQ:CRAY) hit a new 52-week low and has $19.43 target or 5.00% below today’s $20.45 share price. The 6 months bearish chart indicates high risk for the $833.27 million company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $19.43 price target is reached, the company will be worth $41.66M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 74,483 shares traded hands. Cray Inc. (NASDAQ:CRAY) has declined 50.18% since March 29, 2016 and is downtrending. It has underperformed by 53.65% the S&P500.

Analysts await Cray Inc. (NASDAQ:CRAY) to report earnings on November, 3. They expect $-0.33 earnings per share, down 178.57% or $0.75 from last year’s $0.42 per share. After $-0.33 actual earnings per share reported by Cray Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Cray Inc. (NASDAQ:CRAY) Ratings Coverage

Out of 4 analysts covering Cray (NASDAQ:CRAY), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Cray has been the topic of 7 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Needham given on Friday, February 12. The firm has “Hold” rating by Craig Hallum given on Wednesday, May 4. The firm has “Hold” rating given on Wednesday, May 4 by Needham. The company was initiated on Monday, March 7 by Sidoti. The rating was maintained by Needham with “Buy” on Friday, July 31. On Tuesday, April 19 the stock rating was upgraded by Sidoti to “Buy”. As per Friday, February 12, the company rating was maintained by Stifel Nicolaus.

According to Zacks Investment Research, “Cray Inc., formerly Tera Computer Company, designs, builds and sells high-performance vector processor and general-purpose parallel computer systems. The company has leading edge technology, multiple product platforms, annual revenues, nearly 900 employees, major manufacturing and service capabilities, and extensive global customer relationships. (PRESS RELEASE)”

Insitutional Activity: The institutional sentiment decreased to 0.7 in Q2 2016. Its down 1.48, from 2.18 in 2016Q1. The ratio fall, as 40 funds sold all Cray Inc. shares owned while 57 reduced positions. 16 funds bought stakes while 52 increased positions. They now own 36.80 million shares or 3.14% less from 37.99 million shares in 2016Q1.
Ahl Partners Llp has invested 0.06% of its portfolio in Cray Inc. (NASDAQ:CRAY). Geode Llc reported 325,194 shares or 0.01% of all its holdings. Blackrock has 0% invested in the company for 3,936 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in Cray Inc. (NASDAQ:CRAY) for 902 shares. Moreover, First Corporation In has 0.01% invested in Cray Inc. (NASDAQ:CRAY) for 595 shares. Lucus Ltd Liability Company has 11,662 shares for 0.29% of their US portfolio. Ubs Asset Americas has 0% invested in the company for 17,967 shares. Manufacturers Life Insurance The, a Ontario – Canada-based fund reported 27,260 shares. Aqr Cap Lc last reported 127,837 shares in the company. The Minnesota-based Us Savings Bank De has invested 0% in Cray Inc. (NASDAQ:CRAY). Capstone Asset Management Co holds 14,753 shares or 0.01% of its portfolio. Hutchin Hill Cap Lp holds 29,300 shares or 0.03% of its portfolio. Moreover, Voya Invest has 0% invested in Cray Inc. (NASDAQ:CRAY) for 18,521 shares. New York State Teachers Retirement System last reported 0% of its portfolio in the stock. Gotham Asset Mngmt Ltd Limited Liability Company holds 508,531 shares or 0.18% of its portfolio.

Insider Transactions: Since May 5, 2016, the stock had 0 buys, and 2 selling transactions for $394,637 net activity. The insider Piraino Michael Charles sold $329,475. Shares for $65,162 were sold by KIELY STEPHEN C on Thursday, May 5.

More notable recent Cray Inc. (NASDAQ:CRAY) news were published by: Fool.com which released: “Why Cray Inc. Is Plunging Today” on May 04, 2016, also Fool.com with their article: “Why Cray, Inc. Fell 27% in August” published on September 08, 2016, Fool.com published: “Is Cray Inc. A Buy After Its Run-Up?” on February 10, 2016. More interesting news about Cray Inc. (NASDAQ:CRAY) were released by: Wsj.com and their article: “Cray’s Stock Plunges Due to Smoke and Wider Than Expected Losses” published on August 03, 2016 as well as Bizjournals.com‘s news article titled: “Cray Inc. confirms St. Paul office move to Mall of America” with publication date: April 26, 2016.

CRAY Company Profile

Cray Inc., incorporated on December 7, 1987, designs, develops, makes, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Firm provides software, system maintenance, support services and engineering services related to supercomputer systems. The Company’s clients include foreign and domestic governments, government-funded entities, academic institutions and commercial entities. The Company’s divisions are Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other. The Company’s products include Cray Supercomputing Systems, including Cray XC40-LC Supercomputer, Cray XC40-AC Supercomputer, Cray CS400-AC Supercomputer, Cray CS400-LC Supercomputer and Cray CS-Storm Supercomputer; Cray Analytics Products, including Cray Urika-GD Graph Discovery Appliance and Cray Urika-XA Extreme Analytics Platform, and Cray Storage and Data Management Products, including Cray Sonexion Storage Systems, Cray DataWarp Applications I/O Accelerator and Cray Tiered Adaptive Storage (TAS).

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