Shares of Accuray Incorporated (NASDAQ:ARAY) saw unusually-high trading volume on Friday . Approximately 1,687,861 shares were traded during mid-day trading, an increase of 268% from the previous session’s volume of 458,859 shares.The stock last traded at $4.25 and had previously closed at $4.20.

ARAY has been the topic of a number of research analyst reports. BidaskClub cut shares of Accuray from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Accuray in a report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $5.00 target price on shares of Accuray in a report on Thursday, August 24th. Zacks Investment Research raised shares of Accuray from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Accuray in a report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $5.85.

The stock’s market cap is $353.51 million. The stock’s 50 day moving average price is $4.13 and its 200 day moving average price is $4.45.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Tuesday, August 22nd. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Accuray had a negative return on equity of 61.62% and a negative net margin of 7.71%. The firm had revenue of $112.09 million for the quarter, compared to analysts’ expectations of $112.00 million. During the same quarter last year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities analysts predict that Accuray Incorporated will post ($0.20) earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARAY. Neuberger Berman Group LLC boosted its stake in Accuray by 26.7% in the first quarter. Neuberger Berman Group LLC now owns 5,014,941 shares of the medical equipment provider’s stock valued at $23,821,000 after acquiring an additional 1,057,654 shares during the last quarter. Vident Investment Advisory LLC boosted its stake in Accuray by 212.7% in the first quarter. Vident Investment Advisory LLC now owns 1,553,111 shares of the medical equipment provider’s stock valued at $7,377,000 after acquiring an additional 1,056,395 shares during the last quarter. Bogle Investment Management L P DE purchased a new position in Accuray in the first quarter valued at about $1,952,000. Vanguard Group Inc. boosted its stake in Accuray by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,447,130 shares of the medical equipment provider’s stock valued at $30,623,000 after acquiring an additional 286,011 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Accuray by 31.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,124,803 shares of the medical equipment provider’s stock valued at $5,343,000 after acquiring an additional 266,790 shares during the last quarter. Hedge funds and other institutional investors own 76.67% of the company’s stock.

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Accuray Company Profile

Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.

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