Roth Capital Comments on Accuray Incorporated’s FY2024 Earnings (NASDAQ:ARAY)

Accuray Incorporated (NASDAQ:ARAY) – Investment analysts at Roth Capital decreased their FY2024 earnings estimates for Accuray in a report issued on Thursday, May 2nd. Roth Capital analyst J. Wittes now forecasts that the medical equipment provider will post earnings of ($0.16) per share for the year, down from their previous estimate of ($0.09). Roth Capital has a “Buy” rating on the stock. The consensus estimate for Accuray’s current full-year earnings is ($0.16) per share. Roth Capital also issued estimates for Accuray’s FY2025 earnings at ($0.01) EPS.

Accuray (NASDAQ:ARAY) last posted its earnings results on Wednesday, May 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Accuray had a negative return on equity of 42.34% and a negative net margin of 4.99%. The business had revenue of $101.13 million during the quarter, compared to the consensus estimate of $114.60 million. During the same quarter last year, the firm earned $0.01 earnings per share.

Other analysts have also issued research reports about the company. Roth Mkm initiated coverage on Accuray in a report on Tuesday, February 13th. They set a “buy” rating and a $9.00 price target on the stock. TheStreet lowered shares of Accuray from a “c-” rating to a “d+” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.25.

Accuray Trading Up 5.2 %

Shares of NASDAQ ARAY opened at $1.62 on Monday. The stock has a market capitalization of $160.66 million, a P/E ratio of -7.36 and a beta of 1.48. Accuray has a 1-year low of $1.51 and a 1-year high of $4.30. The business’s 50 day moving average is $2.41 and its two-hundred day moving average is $2.61. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.58 and a quick ratio of 0.84.

Institutional Trading of Accuray

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Accuray during the fourth quarter valued at $29,000. Tower Research Capital LLC TRC lifted its holdings in Accuray by 165.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,096 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 7,531 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in Accuray in the 3rd quarter valued at about $35,000. Victory Capital Management Inc. purchased a new stake in Accuray in the 4th quarter valued at about $35,000. Finally, Kestra Advisory Services LLC bought a new position in Accuray in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.