Notable Price Action: After Today’s Huge Increase, Is Cray Inc.’s Near-Term Analysis Positive?

Notable Price Action: After Today's Huge Increase, Is Cray Inc.'s Near Term Analysis Positive?

The stock of Cray Inc. (NASDAQ:CRAY) is a huge mover today! About 122,903 shares traded hands. Cray Inc. (NASDAQ:CRAY) has declined 53.11% since April 18, 2016 and is downtrending. It has underperformed by 57.54% the S&P500.
The move comes after 5 months positive chart setup for the $754.18M company. It was reported on Nov, 18 by Barchart.com. We have $24.11 PT which if reached, will make NASDAQ:CRAY worth $173.46 million more.

Cray Inc. (NASDAQ:CRAY) Ratings Coverage

Out of 4 analysts covering Cray (NASDAQ:CRAY), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Cray has been the topic of 9 analyst reports since July 31, 2015 according to StockzIntelligence Inc. As per Monday, March 7, the company rating was initiated by Sidoti. The firm has “Buy” rating by Sidoti given on Tuesday, April 19. Stifel Nicolaus maintained Cray Inc. (NASDAQ:CRAY) rating on Friday, February 12. Stifel Nicolaus has “Buy” rating and $42 price target. The firm has “Buy” rating by Needham given on Friday, February 12. The firm earned “Buy” rating on Tuesday, November 8 by Stifel Nicolaus. The firm earned “Buy” rating on Tuesday, November 8 by Needham. Craig Hallum downgraded Cray Inc. (NASDAQ:CRAY) rating on Wednesday, May 4. Craig Hallum has “Hold” rating and $34 price target. Needham downgraded Cray Inc. (NASDAQ:CRAY) on Wednesday, May 4 to “Hold” rating. Needham maintained Cray Inc. (NASDAQ:CRAY) rating on Friday, July 31. Needham has “Buy” rating and $31 price target.

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 increased to 0.91 in 2016 Q2. Its up 0.21, from 0.7 in 2016Q1. The ratio is positive, 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.
Moreover, Teacher Retirement Sys Of Texas has 0% invested in Cray Inc. (NASDAQ:CRAY) for 5,699 shares. Swiss Retail Bank last reported 0% of its portfolio in the stock. Teachers Retirement Sys Of The State Of Kentucky holds 0.01% of its portfolio in Cray Inc. (NASDAQ:CRAY) for 15,000 shares. Moreover, New York State Common Retirement Fund has 0% invested in Cray Inc. (NASDAQ:CRAY) for 47,450 shares. Panagora Asset Management has invested 0.01% of its portfolio in Cray Inc. (NASDAQ:CRAY). Geode Cap Lc reported 325,194 shares or 0.01% of all its holdings. Ny State Teachers Retirement reported 26,832 shares or 0% of all its holdings. Art Ltd Llc holds 0.05% or 33,279 shares in its portfolio. The New York-based D E Shaw has invested 0.01% in Cray Inc. (NASDAQ:CRAY). Morgan Stanley owns 298,285 shares or 0% of their US portfolio. The Virginia-based Quantitative Invest Mgmt Limited Liability Corp has invested 0.02% in Cray Inc. (NASDAQ:CRAY). Pnc Fincl Group accumulated 0% or 50,427 shares. State Bank Of New York Mellon Corporation holds 0% of its portfolio in Cray Inc. (NASDAQ:CRAY) for 535,903 shares. Numeric Investors Limited Liability Corporation, a Massachusetts-based fund reported 47,062 shares. Ameriprise accumulated 0% or 213,331 shares.

Insider Transactions: Since August 16, 2016, the stock had 0 insider buys, and 2 insider sales for $455,348 net activity. $125,873 worth of Cray Inc. (NASDAQ:CRAY) was sold by MORREALE CHARLES A. Piraino Michael Charles had sold 15,000 shares worth $329,475 on Tuesday, August 16.

More recent Cray Inc. (NASDAQ:CRAY) news were published by: Nasdaq.com which released: “CORRECTING and REPLACING — Cray Inc.” on November 14, 2016. Also Equitiesfocus.com published the news titled: “Cray Inc (NASDAQ:CRAY) 200-Day MA At $26.52” on November 18, 2016. Globenewswire.com‘s news article titled: “Cray Inc. Reports Third Quarter 2016 Financial Results” with publication date: November 07, 2016 was also an interesting one.

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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