Cray Inc. (CRAY) Shares Jump 4.4% on $36 Million Contract


Shares of Cray Inc. (NASDAQ:CRAY) are up significantly this morning after it was announced that the compay signed a $36 million contract which calls for them to upgrade their Cray XC supercomputers and Sonexion Storage Systems at the European Centre for Medium-Range Weather Forecasts (ECMWF). The idea behind the upgrade is to allow the ECMWF to provide even more accurate weather forecasts than they have been able to do.

The deal will bring the ECMWF’s XC30 supercomputers more up to day with an upgrade to the XC40 which includes the Intel Xeon processors. They will also get Cray’s Sonexion 2000 scale-out Lustre storage and a 32-node AC system featuring the Intel Xeon Phi.

Shareholders love this news as it brings significant revenue to Cray Inc. (NASDAQ:CRAY). The stock closed at $33.07 during the last trading session. It is up 5.15% since June 18, 2015 and is uptrending. It has outperformed the S&P500 by 16.17%.

The institutional sentiment increased to 1.3 in Q2 2015. It’s up 0.48, from 0.82 in 2015Q2. The ratio increased, as 9 funds sold all their Cray Inc. shares they owned while 35 reduced their positions. 15 funds bought stakes while 42 increased their total positions. Institutions now own 45.45 million shares which is 23.21% more than the previous share count of 36.89 million in 2015Q2.

Paradigm Capital Management Inc Ny holds 2.29% of its total portfolio in Cray Inc., equating to 949,500 shares. First Washington Corp owns 174,600 shares representing 2.09% of their total US portfolio. Moreover, Nichols Asset Management Llc has 1.68% of their total portfolio invested in the company, equating to 379,587 shares. The California-based Rice Hall James & Associates Llc has a total of 1.01% of their portfolio invested in the stock. Mairs & Power Inc, a Minnesota-based fund reported 2.62 million shares owned.

Since May 20, 2015, the stock had 0 insider purchases, and 1 sale for a total of $301,648 in net activity. Piraino Michael Charles sold 12,912 shares worth $301,648. Kiely Stephen C sold 6,000 shares worth $180,000.

Cray Inc. designs, develops, manufactures, markets and services the high-performance computing . The company has a market cap of $1.34 billion. The Firm markets supercomputers and provides storage and analytics solutions. It has 18.49 P/E ratio. It also provides software, system maintenance and support services, and engineering services related to supercomputer systems.