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

Wall Street Zen downgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

ARAY has been the topic of a number of other research reports. BTIG Research decreased their price target on shares of Accuray from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Accuray in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.00.

Accuray Price Performance

NASDAQ ARAY opened at $0.83 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 2.06. The company has a market cap of $93.54 million, a PE ratio of -5.16 and a beta of 1.07. Accuray has a 52 week low of $0.81 and a 52 week high of $2.95. The firm’s 50-day simple moving average is $1.14 and its two-hundred day simple moving average is $1.36.

Accuray (NASDAQ:ARAY) last posted its earnings results 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 business had revenue of $93.94 million during the quarter, compared to analysts’ expectations of $91.34 million. Accuray had a negative return on equity of 34.06% and a negative net margin of 4.28%. Research analysts predict that Accuray will post 0.01 earnings per share for the current year.

Institutional Trading of Accuray

Several institutional investors have recently added to or reduced their stakes in ARAY. Silverback Asset Management LLC increased its holdings in shares of 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 buying an additional 1,096,993 shares during the period. Nuveen LLC purchased a new position in Accuray in the 1st quarter worth approximately $609,000. Hsbc Holdings PLC lifted its position in Accuray by 15.4% in the first quarter. Hsbc Holdings PLC now owns 122,654 shares of the medical equipment provider’s stock valued at $221,000 after purchasing an additional 16,389 shares during the last quarter. CSM Advisors LLC bought a new stake in Accuray in the second quarter valued at approximately $527,000. Finally, Williams & Novak LLC boosted its stake in shares of Accuray by 25.5% during the second quarter. Williams & Novak LLC now owns 68,970 shares of the medical equipment provider’s stock valued at $94,000 after purchasing an additional 14,000 shares during the period. 64.08% of the stock is currently 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.