Seeking Alpha

SGI gradually rallies following U.K. supercomputer deal

  • The U.K.'s Atomic Weapons Establishment has received three SGI (SGI +6.8%) ICE X supercomputer clusters. The systems will be used for R&D meant to verify the safety and effectiveness of the U.K.'s nuclear arsenal.
  • Shares opened near breakeven following the announcement, but closed with big gains. They were up 17% at one point.
  • 13% of the float was shorted (as of May 30). Shares still -28% YTD following a big drop in U.S. federal orders.
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