NEW YORK (TheStreet) -- Shares of Cray Inc. (CRAY) are up 2.95% to $30.88 after the super-computing system provider announced it was awarded a contract to provide the Tata Institute for Fundamental Research in Mumbai, India, a Cray XC30 Supercomputer, the first system in the country.
The Cray XC30 system will be used by a consortium of scientists called the 'Indian Lattice Gauge Theory Initiative,' who research the properties of a phase of matter called the quark-gluon plasma.
Terms of the deal were not disclosed.
Separately, TheStreet Ratings team rates CRAY INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CRAY INC (CRAY) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: