Xact Kapitalforvaltning AB Purchase Holding in Cray Inc. (CRAY)

Xact Kapitalforvaltning AB Purchase Holding in Cray Inc. (CRAY)

Xact Kapitalforvaltning AB bought a new stake in shares of Cray Inc. (NASDAQ:CRAY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,100 shares of the technology company’s stock, valued at approximately $217,000.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. raised its stake in Cray by 5.7% during the 2nd quarter. BlackRock Inc. now owns 5,520,714 shares of the technology company’s stock valued at $135,810,000 after acquiring an additional 295,955 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Cray by 11.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,560,000 shares of the technology company’s stock valued at $33,540,000 after purchasing an additional 160,000 shares during the period. Bank of New York Mellon Corp increased its position in shares of Cray by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,354,936 shares of the technology company’s stock valued at $33,329,000 after purchasing an additional 25,498 shares during the period. Royce & Associates LP increased its position in shares of Cray by 27.3% during the 2nd quarter. Royce & Associates LP now owns 1,176,481 shares of the technology company’s stock valued at $28,941,000 after purchasing an additional 252,410 shares during the period. Finally, Voya Investment Management LLC increased its position in shares of Cray by 5.1% during the 2nd quarter. Voya Investment Management LLC now owns 1,040,881 shares of the technology company’s stock valued at $25,606,000 after purchasing an additional 50,970 shares during the period. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on CRAY. BidaskClub upgraded Cray from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. ValuEngine upgraded Cray from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research cut Cray from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Cray presently has a consensus rating of “Buy” and an average price target of $31.00.

Shares of CRAY stock opened at $25.00 on Thursday. Cray Inc. has a 1 year low of $18.10 and a 1 year high of $28.60.

Cray (NASDAQ:CRAY) last issued its quarterly earnings results on Tuesday, October 30th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). Cray had a negative net margin of 33.95% and a negative return on equity of 10.56%. The firm had revenue of $92.80 million for the quarter, compared to analyst estimates of $90.58 million. During the same quarter last year, the business posted ($0.33) earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Analysts anticipate that Cray Inc. will post -1.55 earnings per share for the current year.

Cray Profile

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

Further Reading: How to calculate the intrinsic value of a stock

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