Accuray Incorporated (NASDAQ:ARAY) was up 5.1% during mid-day trading on Friday . The company traded as high as $4.15 and last traded at $4.10. Approximately 2,319,305 shares traded hands during mid-day trading, an increase of 254% from the average daily volume of 655,530 shares. The stock had previously closed at $3.90.

A number of equities research analysts recently issued reports on ARAY shares. BidaskClub lowered shares of Accuray from a “hold” rating to a “sell” rating in a report on Saturday, June 23rd. Zacks Investment Research raised shares of Accuray from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Citigroup dropped their price objective on shares of Accuray from $4.00 to $3.50 and set a “sell” rating for the company in a report on Friday, August 17th. Jefferies Financial Group reissued a “buy” rating and issued a $6.00 price objective on shares of Accuray in a report on Friday, August 17th. Finally, BTIG Research reissued a “hold” rating on shares of Accuray in a report on Wednesday, August 22nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Accuray currently has an average rating of “Hold” and an average price target of $6.68.

The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.04 and a current ratio of 1.68. The firm has a market cap of $354.60 million, a PE ratio of -14.64 and a beta of 1.76.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Thursday, August 16th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $113.79 million for the quarter, compared to analysts’ expectations of $108.45 million. Accuray had a negative net margin of 5.90% and a negative return on equity of 43.31%. During the same quarter in the prior year, the company earned ($0.04) earnings per share. analysts anticipate that Accuray Incorporated will post -0.1 earnings per share for the current fiscal year.

In other news, SVP Alaleh Nouri sold 8,559 shares of the stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $4.08, for a total transaction of $34,920.72. Following the sale, the senior vice president now owns 195,924 shares of the company’s stock, valued at $799,369.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joshua Levine sold 34,235 shares of the stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $4.08, for a total transaction of $139,678.80. Following the sale, the chief executive officer now directly owns 1,392,518 shares in the company, valued at approximately $5,681,473.44. The disclosure for this sale can be found here. Insiders have sold 57,059 shares of company stock worth $232,801 in the last three months. Corporate insiders own 3.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Sei Investments Co. purchased a new position in Accuray in the first quarter valued at approximately $107,000. First Trust Advisors LP lifted its holdings in Accuray by 113.1% in the second quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock valued at $112,000 after acquiring an additional 14,508 shares during the period. KBC Group NV acquired a new stake in Accuray in the second quarter valued at $112,000. Element Capital Management LLC acquired a new stake in Accuray in the first quarter valued at $141,000. Finally, Redmile Group LLC acquired a new stake in Accuray in the first quarter valued at $145,000. Institutional investors own 83.53% of the company’s stock.

About Accuray (NASDAQ:ARAY)

Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.

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