Accuray (NASDAQ:ARAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Accuray (NASDAQ:ARAY) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other brokerages have also recently weighed in on ARAY. Weiss Ratings reissued a “sell (d-)” rating on shares of Accuray in a research note on Monday, December 15th. BTIG Research decreased their target price on shares of Accuray from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.00.

Accuray Trading Down 2.2%

Accuray stock opened at $0.89 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.76 and a current ratio of 1.56. The firm has a market cap of $100.62 million, a price-to-earnings ratio of -5.55 and a beta of 1.07. Accuray has a 1 year low of $0.86 and a 1 year high of $2.95. The firm’s 50 day moving average price is $1.21 and its two-hundred day moving average price is $1.38.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.13). The company had revenue of $93.94 million for the quarter, compared to the consensus estimate of $91.34 million. Accuray had a negative return on equity of 34.06% and a negative net margin of 4.28%. On average, research analysts predict that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARAY. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in Accuray in the 2nd quarter valued at approximately $2,055,000. Armistice Capital LLC increased its stake in shares of Accuray by 105.2% in the first quarter. Armistice Capital LLC now owns 2,536,000 shares of the medical equipment provider’s stock worth $4,539,000 after acquiring an additional 1,300,000 shares during the last quarter. Silverback Asset Management LLC raised its holdings in shares of Accuray by 1,588.4% during the second 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 boosted its position in Accuray by 67.7% during 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 purchasing an additional 966,100 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in Accuray by 9,301.4% during the third quarter. Citadel Advisors LLC now owns 662,499 shares of the medical equipment provider’s stock valued at $1,106,000 after purchasing an additional 669,699 shares during the last quarter. 64.08% of the stock is owned by hedge funds and other institutional investors.

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.