Cray Inc (CRAY) started the trading day on a down note, making it one of the worst performing stocks in the technology sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 22. Shares of CRAY have fallen 4.5% about 30 minutes into the session to $22.72 after closing the day prior at $23.79. It’s early, but the stock has traded as high as $23.75 and as low as $22.69 so far. Today’s quick decline has come with about 88,982 shares changing hands, compared to an average 30-day volume of 488,774 for Cray Inc. The price is currently below the 30-day volume weighted average price of $23.13 for CRAY.
The share depreciation gives the company a market capitalization of $968.9 million based upon 40.73 million shares outstanding. It also means that CRAY has a price-to-book ratio of 1.94:1.
In the past 52 weeks, shares of CRAY have traded as low as $19.02 and as high as $43.79. Technical traders will take note that at $22.72, shares of CRAY are trading below their 200-day MA at $33.13 and below their 50-day MA at $25.03. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is CRAY?
Cray Inc designs, develops, and supports high-performance computer systems, commonly known as supercomputers and/or clusters, and provide storage solutions, software and engineering services related to HPC systems. The company’s 1282 employees are led by CEO Peter J. Ungaro from the corporate headquarters at 901 Fifth Avenue in Seattle, WA.
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