Insider Buying: Richard Pettingill Acquires 9,795 Shares of Accuray Stock (ARAY)
Accuray (NASDAQ:ARAY) Director Richard Pettingill bought 9,795 shares of Accuray stock on the open market in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $10.33 per share, with a total value of $101,182.35. Following the acquisition, the director now directly owns 43,940 shares of the company’s stock, valued at approximately $453,900. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Accuray (NASDAQ:ARAY) traded down 1.79% during mid-day trading on Thursday, hitting $9.89. The stock had a trading volume of 1,581,777 shares. Accuray has a 1-year low of $3.76 and a 1-year high of $10.85. The stock has a 50-day moving average of $9.02 and a 200-day moving average of $7.54. The company’s market cap is $744.5 million. Accuray also was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 20,480,164 shares, a growth of 9.7% from the December 31st total of 18,499,247 shares. Based on an average trading volume of 744,158 shares, the days-to-cover ratio is currently 27.5 days. Currently, 28.1% of the shares of the company are sold short.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Thursday, January 30th. The company reported ($0.07) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.20) by $0.13. The company had revenue of $93.60 million for the quarter, compared to the consensus estimate of $80.20 million. On average, analysts predict that Accuray will post $-0.54 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Dougherty & Co raised their price target on shares of Accuray from $10.00 to $13.00 in a research note to investors on Friday, January 31st. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Accuray from $8.00 to $11.00 in a research note to investors on Friday, January 31st. Finally, analysts at Brean Capital raised their price target on shares of Accuray from $9.00 to $12.00 in a research note to investors on Wednesday, January 29th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.50.
Accuray, Inc manufactures image-guided radiosurgery devices. The Company is based in the United States and its core product, the CyberKnife Stereotactic Radiosurgery System, combines image-guidance with robotics to offer unparalleled flexibility and accuracy.
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