Accuray Incorporated (NASDAQ:ARAY) Short Interest Up 7.9% in August

Accuray Incorporated (NASDAQ:ARAY) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 5,210,000 shares, a growth of 7.9% from the July 31st total of 4,830,000 shares. Based on an average trading volume of 854,500 shares, the days-to-cover ratio is presently 6.1 days.

Accuray Stock Performance

Shares of ARAY opened at $2.18 on Monday. The company has a current ratio of 1.58, a quick ratio of 0.78 and a debt-to-equity ratio of 4.05. The stock has a market capitalization of $216.34 million, a P/E ratio of -9.91 and a beta of 1.45. The firm’s fifty day simple moving average is $1.87 and its two-hundred day simple moving average is $2.06. Accuray has a 12 month low of $1.40 and a 12 month high of $3.10.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, August 14th. The medical equipment provider reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $134.29 million for the quarter, compared to analysts’ expectations of $122.80 million. Accuray had a negative net margin of 3.48% and a negative return on equity of 33.39%. During the same quarter in the prior year, the firm earned ($0.03) EPS. As a group, analysts predict that Accuray will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Accuray

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Heartland Advisors Inc. boosted its position in shares of Accuray by 2.2% during the 1st quarter. Heartland Advisors Inc. now owns 2,919,200 shares of the medical equipment provider’s stock worth $7,210,000 after purchasing an additional 61,700 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Accuray by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,812,184 shares of the medical equipment provider’s stock valued at $5,118,000 after purchasing an additional 7,500 shares during the last quarter. North Star Investment Management Corp. boosted its stake in Accuray by 0.5% during the 1st quarter. North Star Investment Management Corp. now owns 1,100,920 shares of the medical equipment provider’s stock valued at $2,719,000 after purchasing an additional 5,000 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Accuray by 1.0% during the 1st quarter. First Eagle Investment Management LLC now owns 969,508 shares of the medical equipment provider’s stock worth $2,395,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in shares of Accuray by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 665,842 shares of the medical equipment provider’s stock worth $1,645,000 after purchasing an additional 10,211 shares during the last quarter. Institutional investors own 64.08% of the company’s stock.

About Accuray

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.