Accuray (NASDAQ:ARAY) Upgraded at Wall Street Zen
by Scott Moore · The Cerbat GemWall Street Zen upgraded shares of Accuray (NASDAQ:ARAY – Free Report) from a sell rating to a hold rating in a report issued on Monday.
Other equities analysts also recently issued research reports about the stock. BTIG Research lowered their price objective on shares of Accuray from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Accuray in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Accuray presently has a consensus rating of “Hold” and an average target price of $4.00.
Read Our Latest Analysis on Accuray
Accuray Trading Down 1.8%
Shares of NASDAQ ARAY opened at $0.87 on Monday. The stock has a market capitalization of $99.03 million, a P/E ratio of -5.46 and a beta of 1.10. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.56 and a quick ratio of 0.76. The business’s 50 day moving average is $1.03 and its two-hundred day moving average is $1.34. Accuray has a 1-year low of $0.78 and a 1-year high of $2.95.
Accuray (NASDAQ:ARAY – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). The business had revenue of $93.94 million for the quarter, compared to analysts’ expectations of $91.34 million. Accuray had a negative net margin of 4.28% and a negative return on equity of 34.06%. As a group, research analysts expect that Accuray will post 0.01 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in Accuray during the second quarter worth approximately $2,055,000. Silverback Asset Management LLC raised its stake in Accuray by 1,588.4% during the 2nd quarter. Silverback Asset Management LLC now owns 1,166,054 shares of the medical equipment provider’s stock worth $1,597,000 after acquiring an additional 1,096,993 shares in the last quarter. Acuitas Investments LLC lifted its position in Accuray by 67.7% in the third quarter. Acuitas Investments LLC now owns 2,392,126 shares of the medical equipment provider’s stock valued at $3,995,000 after acquiring an additional 966,100 shares during the last quarter. Armistice Capital LLC lifted its position in Accuray by 27.6% in the second quarter. Armistice Capital LLC now owns 3,236,000 shares of the medical equipment provider’s stock valued at $4,433,000 after acquiring an additional 700,000 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Accuray by 9,301.4% in the third quarter. Citadel Advisors LLC now owns 662,499 shares of the medical equipment provider’s stock valued at $1,106,000 after acquiring an additional 669,699 shares in the last quarter. Hedge funds and other institutional investors own 64.08% of the company’s stock.
About Accuray
Accuray Incorporated (NASDAQ: ARAY) is a global medical device company that develops, manufactures and markets innovative radiation therapy solutions for the treatment of cancer. The company’s flagship products include the CyberKnife® System, a robotic radiosurgery platform offering sub-millimeter precision, and the TomoTherapy® System, which combines helical computed tomography (CT) imaging with intensity-modulated radiation therapy (IMRT). More recently, Accuray introduced the Radixact® System, an advanced iteration of its TomoTherapy technology designed to enhance treatment speed and clinical workflow.
Accuray’s suite of products enables clinicians to deliver highly targeted radiation doses while minimizing exposure to surrounding healthy tissue.