Accuray Inc. (NASDAQ:ARAY) saw strong trading volume on Friday . 908,697 shares traded hands during mid-day trading, an increase of 65% from the previous session’s volume of 552,365 shares.The stock last traded at $5.19 and had previously closed at $5.00.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley set a $8.00 price target on shares of Accuray and gave the company a “hold” rating in a report on Thursday. Brean Capital restated a “buy” rating and set a $12.00 target price on shares of Accuray in a report on Sunday, May 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $8.44.

The firm’s 50-day moving average is $5.35 and its 200-day moving average is $5.41. The firm’s market capitalization is $429.71 million.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, August 17th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.02. The firm had revenue of $95 million for the quarter, compared to the consensus estimate of $98.97 million. During the same period last year, the business posted ($0.07) earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. Analysts anticipate that Accuray Inc. will post ($0.10) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Accuray stock. Wells Fargo & Company MN boosted its stake in shares of Accuray Inc. (NASDAQ:ARAY) by 20.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,656,069 shares of the company’s stock after buying an additional 286,458 shares during the period. Wells Fargo & Company MN owned about 2.05% of Accuray worth $11,178,000 at the end of the most recent reporting period.

Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.

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