ViewRay, Inc. (NASDAQ:VRAY) shares rose 0.8% during mid-day trading on Friday . The company traded as high as $6.45 and last traded at $6.21. Approximately 156,739 shares were traded during trading, a decline of 77% from the average daily volume of 683,727 shares. The stock had previously closed at $6.16.

VRAY has been the subject of a number of recent research reports. BTIG Research reiterated a “buy” rating and set a $10.00 price objective on shares of ViewRay in a research note on Wednesday, May 17th. Northland Securities reiterated a “buy” rating and set a $7.00 price objective on shares of ViewRay in a research note on Tuesday, May 16th. Aegis reiterated a “buy” rating and set a $11.00 price objective on shares of ViewRay in a research note on Tuesday, May 16th. Mizuho initiated coverage on ViewRay in a research note on Wednesday. They set a “buy” rating and a $12.00 price objective for the company. Finally, ValuEngine upgraded ViewRay from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $10.00.

The stock’s 50-day moving average price is $5.31 and its 200 day moving average price is $6.26. The company’s market capitalization is $361.71 million.

ViewRay (NASDAQ:VRAY) last posted its earnings results on Monday, August 7th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by $0.02. The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.68 million. The firm’s revenue for the quarter was up 133.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) earnings per share. Analysts predict that ViewRay, Inc. will post ($0.81) earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors grew its holdings in ViewRay by 843.2% during the second quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock worth $107,000 after acquiring an additional 14,789 shares during the period. HighTower Advisors LLC grew its holdings in ViewRay by 5.0% during the second quarter. HighTower Advisors LLC now owns 21,000 shares of the company’s stock worth $135,000 after acquiring an additional 1,000 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in ViewRay during the second quarter worth about $159,000. Highbridge Capital Management LLC acquired a new stake in ViewRay during the first quarter worth about $167,000. Finally, Boston Financial Mangement LLC acquired a new stake in ViewRay during the first quarter worth about $170,000. 53.67% of the stock is currently owned by hedge funds and other institutional investors.

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About ViewRay

ViewRay, Inc designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Company offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered.

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