BidaskClub upgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a buy rating in a research report report published on Saturday, BidAskClub reports.

Separately, BTIG Research reissued a hold rating on shares of Accuray in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $5.13.

ARAY opened at $3.86 on Friday. The company has a 50-day moving average of $3.85. Accuray has a 1 year low of $3.00 and a 1 year high of $5.40. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.71 and a quick ratio of 1.03. The stock has a market capitalization of $331.84 million, a price-to-earnings ratio of -13.79 and a beta of 1.91.

Accuray (NASDAQ:ARAY) last posted its earnings results on Tuesday, April 23rd. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $103.22 million for the quarter, compared to analyst estimates of $104.02 million. Accuray had a negative return on equity of 25.91% and a negative net margin of 3.85%. As a group, research analysts predict that Accuray will post -0.16 earnings per share for the current fiscal year.

In other Accuray news, CEO Joshua Levine sold 6,604 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $4.54, for a total value of $29,982.16. Following the completion of the sale, the chief executive officer now owns 1,033,593 shares of the company’s stock, valued at $4,692,512.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Accuray during the fourth quarter worth about $3,287,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of Accuray by 58.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,015,496 shares of the medical equipment provider’s stock worth $6,873,000 after purchasing an additional 741,493 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Accuray by 429.2% during the first quarter. Acadian Asset Management LLC now owns 746,860 shares of the medical equipment provider’s stock worth $3,562,000 after purchasing an additional 605,743 shares during the period. Cadence Capital Management LLC acquired a new stake in shares of Accuray during the first quarter worth about $2,307,000. Finally, Millennium Management LLC lifted its holdings in shares of Accuray by 59.7% during the fourth quarter. Millennium Management LLC now owns 1,257,268 shares of the medical equipment provider’s stock worth $4,287,000 after purchasing an additional 470,087 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

About Accuray

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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