Accuray Inc. (ARAY) Sees Unusually-High Trading Volume
Accuray Inc. (NASDAQ:ARAY) saw an uptick in trading volume on Friday . 908,697 shares changed hands during 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 research firms recently issued reports on ARAY. Brean Capital restated a “buy” rating and set a $12.00 price target on shares of Accuray in a research note on Sunday, May 22nd. Morgan Stanley set a $8.00 price target on Accuray and gave the stock a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.44.
The company’s market cap is $429.71 million. The firm’s 50-day moving average is $5.36 and its 200 day moving average is $5.40.
Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, August 17th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. During the same period last year, the firm earned ($0.07) earnings per share. The firm earned $95 million during the quarter, compared to the consensus estimate of $98.97 million. Accuray’s revenue for the quarter was down 6.7% on a year-over-year basis. Analysts predict that Accuray Inc. will post ($0.10) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Accuray stock. Wells Fargo & Company MN increased its stake in Accuray Inc. (NASDAQ:ARAY) by 20.9% during the fourth quarter, according to its most recent disclosure 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 approximately 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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