Today’s Price Action: Is Cray Inc. a Sell? The Stock Reaches 52 Week Low Today

Today's Price Action: Is Cray Inc. a Sell? The Stock Reaches 52 Week Low Today

The stock of Cray Inc. (NASDAQ:CRAY) hit a new 52-week low and has $18.14 target or 7.00% below today’s $19.50 share price. The 7 months bearish chart indicates high risk for the $810.19M company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $18.14 price target is reached, the company will be worth $56.71 million 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 624,528 shares traded hands or 82.90% up from the average. Cray Inc. (NASDAQ:CRAY) has declined 53.27% since April 5, 2016 and is downtrending. It has underperformed by 55.23% the S&P500.

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 8 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Sidoti given on Tuesday, April 19. Craig Hallum downgraded Cray Inc. (NASDAQ:CRAY) on Wednesday, May 4 to “Hold” rating. The rating was maintained by Needham on Friday, February 12 with “Buy”. The firm earned “Hold” rating on Wednesday, May 4 by Needham. Stifel Nicolaus maintained Cray Inc. (NASDAQ:CRAY) on Tuesday, November 8 with “Buy” rating. The firm has “Neutral” rating given on Monday, March 7 by Sidoti. Stifel Nicolaus maintained the shares of CRAY in a report on Friday, February 12 with “Buy” rating. Needham maintained Cray Inc. (NASDAQ:CRAY) on Friday, July 31 with “Buy” rating.

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 dropped, 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.
Vanguard Gp owns 3.43 million shares or 0.01% of their US portfolio. California State Teachers Retirement System, a California-based fund reported 84,427 shares. New York State Teachers Retirement System holds 26,832 shares or 0% of its portfolio. Parallax Volatility Advisers L P accumulated 0% or 24,661 shares. Aqr Capital Limited Company last reported 127,837 shares in the company. Moreover, Thompson Davis Inc has 0% invested in Cray Inc. (NASDAQ:CRAY) for 50 shares. Moreover, Primecap Mngmt Ca has 0.04% invested in Cray Inc. (NASDAQ:CRAY) for 1.17M shares. Tiaa Cref Management Limited has 0.01% invested in the company for 514,820 shares. Public Sector Pension Investment Board holds 0.01% or 28,700 shares in its portfolio. The Pennsylvania-based Susquehanna Intll Gru Limited Liability Partnership has invested 0% in Cray Inc. (NASDAQ:CRAY). First Quadrant Lp Ca holds 0.02% or 34,800 shares in its portfolio. Kbc Group Nv has 0% invested in the company for 1,251 shares. Panagora Asset Mgmt Inc, a Massachusetts-based fund reported 61,033 shares. Alliancebernstein Lp last reported 70,920 shares in the company. Tower Ltd Liability (Trc) owns 4,666 shares or 0.01% of their US portfolio.

Insider Transactions: Since August 16, 2016, the stock had 0 insider purchases, and 1 sale for $329,475 net activity. On Tuesday, August 16 Piraino Michael Charles sold $329,475 worth of the stock or 15,000 shares.

More important recent Cray Inc. (NASDAQ:CRAY) news were published by: Globenewswire.com which released: “Cray Inc. Reports Third Quarter 2016 Financial Results” on November 07, 2016, also Reuters.com published article titled: “BRIEF-Cray Inc reports Q3 loss per share $0.58”, Fool.com published: “Why Cray Inc. Is Plunging Today” on May 04, 2016. More interesting news about Cray Inc. (NASDAQ:CRAY) was released by: Fool.com and their article: “Why Cray, Inc. Fell 27% in August” with publication date: September 08, 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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