Cray Stock Soars (CRAY)

NEW YORK ( TheStreet) -- Shares of Cray (Nasdaq: CRAY) have taken a tremendous swing upward. The stock is trading at $10.74 as of 10:10 a.m. ET, 20.7% above Thursday's closing price of $8.90. Volume is at 1.5 million, 6.6 times the daily average of 221,800.

Cray has a market cap of $315.1 million and is part of the technology sector and computer hardware industry. Shares are up 37.6% year to date as of the close of trading on Thursday.

Cray Inc. engages in the design, development, manufacture, marketing, and service of high-performance computing (HPC) systems, known as supercomputers. The company has a P/E ratio of 21.3, equal to the average computer hardware industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cray as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Cray Ratings Report.

See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.
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