Accuray Shares to Reverse Split on Monday, November 9th (NASDAQ:ARAY)

Shares of Accuray Incorporated (NASDAQ:ARAY) are scheduled to reverse split on the morning of Monday, November 9th. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 8th.

Accuray Price Performance

ARAY stock traded down $0.03 during trading hours on Thursday, hitting $0.12. 623,675 shares of the stock traded hands, compared to its average volume of 3,716,495. The stock has a 50-day simple moving average of $0.22 and a 200 day simple moving average of $0.36. The company has a market cap of $14.11 million, a P/E ratio of -0.30 and a beta of 1.38. Accuray has a one year low of $0.12 and a one year high of $1.30. The company has a current ratio of 1.50, a quick ratio of 0.74 and a debt-to-equity ratio of 3.51.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, August 19th. The medical equipment provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Accuray had a negative net margin of 12.24% and a negative return on equity of 97.85%. The company had revenue of $100.92 million during the quarter, compared to the consensus estimate of $105.30 million.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ARAY shares. Weiss Ratings downgraded Accuray from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. BTIG Research dropped coverage on shares of Accuray in a report on Wednesday, July 8th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Accuray currently has an average rating of “Reduce”.

Hedge Funds Weigh In On Accuray

Several large investors have recently bought and sold shares of ARAY. Weber Capital Management LLC ADV bought a new stake in Accuray in the second quarter valued at $1,271,652. BlackRock Inc. acquired a new position in shares of Accuray during the second quarter worth approximately $842,000. Silverback Asset Management LLC boosted its position in Accuray by 7.7% in the 1st quarter. Silverback Asset Management LLC now owns 1,650,000 shares of the medical equipment provider’s stock valued at $640,000 after buying an additional 117,481 shares during the last quarter. Squarepoint Ops LLC increased its position in Accuray by 164.7% in the second quarter. Squarepoint Ops LLC now owns 1,448,234 shares of the medical equipment provider’s stock worth $373,000 after purchasing an additional 901,158 shares during the period. Finally, Susquehanna International Group LLP raised its stake in shares of Accuray by 2,344.3% during the second quarter. Susquehanna International Group LLP now owns 825,604 shares of the medical equipment provider’s stock worth $213,000 after buying an additional 791,827 shares during the last quarter. 64.08% of the stock is currently owned by institutional investors and hedge funds.

Accuray Company Profile

Accuray Incorporated develops, manufactures and supports radiation oncology systems used to treat cancer. The company focuses on precision radiotherapy technologies designed to deliver targeted radiation while helping clinicians manage treatment complexity and limit exposure to surrounding healthy tissue.

Its principal product platforms include the CyberKnife System, a robotic, image-guided radiation therapy system used for radiosurgery and stereotactic body radiation therapy, and the Radixact System, an image-guided tomotherapy platform designed to deliver highly conformal radiation treatments.