Accuray (NASDAQ:ARAY) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Accuray (NASDAQ:ARAY) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other research firms have also weighed in on ARAY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Accuray in a report on Monday, December 29th. BTIG Research decreased their price target on shares of Accuray from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.00.

Accuray Price Performance

Shares of NASDAQ ARAY opened at $0.62 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. Accuray has a fifty-two week low of $0.54 and a fifty-two week high of $2.69. The stock has a market cap of $70.27 million, a PE ratio of -2.14 and a beta of 1.15. The stock has a fifty day moving average of $0.88 and a 200-day moving average of $1.26.

Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, February 4th. The medical equipment provider reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Accuray had a negative return on equity of 57.29% and a negative net margin of 8.15%.The business had revenue of $102.24 million during the quarter, compared to the consensus estimate of $100.86 million. Equities research analysts anticipate that Accuray will post 0.01 earnings per share for the current year.

Institutional Trading of Accuray

A number of hedge funds have recently bought and sold shares of ARAY. Silverback Asset Management LLC lifted its stake in Accuray by 1,588.4% in 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 purchasing an additional 1,096,993 shares during the last quarter. CSM Advisors LLC bought a new position in shares of Accuray during the second quarter valued at about $527,000. Williams & Novak LLC increased its holdings in shares of Accuray by 25.5% in the second quarter. Williams & Novak LLC now owns 68,970 shares of the medical equipment provider’s stock worth $94,000 after buying an additional 14,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Accuray in the 2nd quarter valued at about $154,000. Finally, Acuitas Investments LLC boosted its holdings in Accuray by 67.7% during the 3rd quarter. Acuitas Investments LLC now owns 2,392,126 shares of the medical equipment provider’s stock valued at $3,995,000 after acquiring an additional 966,100 shares during the period. Institutional investors own 64.08% of the company’s stock.

Accuray Company Profile

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.