Accuray (NASDAQ:ARAY) Downgraded by StockNews.com to Hold

Accuray (NASDAQ:ARAY) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Accuray Price Performance

ARAY stock opened at $1.74 on Wednesday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. The business has a 50-day simple moving average of $1.62 and a two-hundred day simple moving average of $1.91. The company has a market capitalization of $179.24 million, a P/E ratio of -34.80 and a beta of 1.30. Accuray has a 52-week low of $1.28 and a 52-week high of $2.95.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. The company had revenue of $113.24 million for the quarter, compared to analysts’ expectations of $101.53 million. Research analysts expect that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Trading of Accuray

Institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. bought a new position in shares of Accuray during the 4th quarter valued at approximately $35,000. Prudential Financial Inc. purchased a new position in shares of Accuray during the 4th quarter valued at $43,000. ProShare Advisors LLC lifted its position in shares of Accuray by 50.7% during the 4th quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 9,187 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Accuray in the 4th quarter worth about $66,000. Finally, Gabelli Funds LLC raised its stake in Accuray by 12.5% in the 4th quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider’s stock valued at $89,000 after acquiring an additional 5,000 shares during the period. 64.08% of the stock is owned by hedge funds and other institutional investors.

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, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, 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.