Accuray (NASDAQ:ARAY) Rating Lowered to Sell at Wall Street Zen

Accuray (NASDAQ:ARAY) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Other equities research analysts have also issued research reports about the stock. BTIG Research dropped their price objective on shares of Accuray from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Accuray in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.00.

Accuray Stock Performance

ARAY stock opened at $0.83 on Friday. The stock’s 50 day simple moving average is $1.14 and its 200 day simple moving average is $1.36. Accuray has a 12-month low of $0.81 and a 12-month high of $2.95. The firm has a market cap of $93.54 million, a P/E ratio of -5.16 and a beta of 1.06. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 2.06.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). The business had revenue of $93.94 million during the quarter, compared to analyst estimates of $91.34 million. Accuray had a negative return on equity of 34.06% and a negative net margin of 4.28%. As a group, equities research analysts predict that Accuray will post 0.01 EPS for the current year.

Institutional Trading of Accuray

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Accuray during the 3rd quarter worth $35,000. Tower Research Capital LLC TRC lifted its holdings in Accuray by 604.2% in the second quarter. Tower Research Capital LLC TRC now owns 35,177 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 30,182 shares during the period. BNP Paribas Financial Markets grew its position in Accuray by 32.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 39,369 shares of the medical equipment provider’s stock valued at $66,000 after buying an additional 9,633 shares in the last quarter. Teton Advisors LLC bought a new position in Accuray in the 3rd quarter valued at about $67,000. Finally, R Squared Ltd increased its stake in Accuray by 94.0% during the 3rd quarter. R Squared Ltd now owns 40,550 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 19,648 shares during the period. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.