Accuray Sees Unusually High Options Volume (NASDAQ:ARAY)
Accuray Incorporated (NASDAQ:ARAY) saw some unusual options trading on Tuesday. Stock investors bought 14,651 call options on the company. This represents an increase of 1,544% compared to the typical volume of 891 call options.
Accuray (NASDAQ ARAY) opened at 4.60 on Friday. The stock’s 50 day moving average price is $4.47 and its 200 day moving average price is $4.78. The firm’s market capitalization is $381.80 million. Accuray has a 12 month low of $3.85 and a 12 month high of $6.39.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.07. The firm had revenue of $97.31 million for the quarter, compared to the consensus estimate of $110.23 million. Accuray had a negative return on equity of 61.49% and a negative net margin of 8.61%. Accuray’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share. On average, analysts forecast that Accuray will post ($0.30) earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of Accuray by 116.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,173 shares of the medical equipment provider’s stock valued at $143,000 after buying an additional 16,223 shares in the last quarter. Lapides Asset Management LLC boosted its stake in shares of Accuray by 0.9% in the first quarter. Lapides Asset Management LLC now owns 2,213,800 shares of the medical equipment provider’s stock valued at $10,516,000 after buying an additional 18,900 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Accuray by 10.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 55,675 shares of the medical equipment provider’s stock valued at $264,000 after buying an additional 5,407 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Accuray during the first quarter valued at $445,000. Finally, PEAK6 Investments L.P. purchased a new stake in shares of Accuray during the first quarter valued at $193,000. 84.22% of the stock is currently owned by hedge funds and other institutional investors.
ARAY has been the subject of several analyst reports. Zacks Investment Research upgraded Accuray from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Tuesday, April 4th. Jefferies Group LLC reiterated a “buy” rating and set a $7.00 price objective (down from $8.00) on shares of Accuray in a research report on Saturday, April 29th. Finally, BTIG Research reiterated a “hold” rating on shares of Accuray in a research report on Sunday, April 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.04.
TRADEMARK VIOLATION WARNING: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/07/21/accuray-sees-unusually-high-options-volume-nasdaqaray.html.
Accuray Company Profile
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
Receive News & Ratings for Accuray Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accuray Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.