Elekta (OTCMKTS:EKTAY) Stock Price Down 7.3% – Here’s Why

Elekta AB (OTCMKTS:EKTAY) shares dropped 7.3% during trading on Wednesday . The company traded as low as $4.9050 and last traded at $4.9050. 1,548 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 2,709 shares. The stock had previously closed at $5.29.

Wall Street Analyst Weigh In

Separately, Zacks Research cut Elekta from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Elekta Stock Performance

The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -30.56 and a beta of 1.01. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $5.55 and a 200 day simple moving average of $5.94.

Elekta (OTCMKTS:EKTAY) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.06 EPS for the quarter. Elekta had a negative net margin of 3.32% and a positive return on equity of 11.11%. The business had revenue of $521.00 million during the quarter. As a group, equities research analysts forecast that Elekta AB will post 0.43 EPS for the current year.

About Elekta

Elekta is a global medical technology company specializing in the development, manufacture and support of precision radiation therapy and radiosurgery equipment. Its products and services aim to improve patient outcomes in oncology and neurosurgery by combining advanced hardware, software and clinical workflow solutions. Elekta’s offerings are designed to address a broad range of cancer types and brain disorders through targeted, image-guided treatments.

The company’s core product portfolio includes linear accelerators for external beam radiation therapy, stereotactic radiosurgery systems such as the renowned Gamma Knife platform, and brachytherapy solutions for internal radiation treatment.