Accuray Incorporated (NASDAQ:ARAY) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 7,005,156 shares, an increase of 22.6% from the November 15th total of 5,714,788 shares. Currently, 8.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,399,568 shares, the days-to-cover ratio is currently 5.0 days.

ARAY has been the subject of several recent analyst reports. Zacks Investment Research raised Accuray from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research note on Tuesday, October 24th. Lake Street Capital assumed coverage on Accuray in a report on Thursday, November 30th. They issued a “buy” rating and a $10.00 price objective for the company. Cowen restated a “buy” rating and issued a $9.00 price objective on shares of Accuray in a report on Friday, October 27th. Jefferies Group cut their price objective on Accuray from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Finally, BidaskClub lowered Accuray from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $6.82.

In other news, CEO Joshua Levine sold 17,093 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $4.86, for a total value of $83,071.98. Following the completion of the transaction, the chief executive officer now owns 1,435,428 shares of the company’s stock, valued at $6,976,180.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin Waters sold 7,154 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $5.06, for a total value of $36,199.24. Following the completion of the transaction, the chief financial officer now directly owns 335,087 shares of the company’s stock, valued at approximately $1,695,540.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,549 shares of company stock valued at $550,135. 3.90% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Accuray by 4.4% during the second quarter. Vanguard Group Inc. now owns 6,728,919 shares of the medical equipment provider’s stock valued at $31,962,000 after purchasing an additional 281,789 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Accuray by 27.6% during the first quarter. Dimensional Fund Advisors LP now owns 858,013 shares of the medical equipment provider’s stock valued at $4,076,000 after purchasing an additional 185,519 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Accuray by 2.0% during the second quarter. Renaissance Technologies LLC now owns 4,391,000 shares of the medical equipment provider’s stock valued at $20,857,000 after purchasing an additional 85,400 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Accuray by 4.5% during the second quarter. Northern Trust Corp now owns 1,048,694 shares of the medical equipment provider’s stock valued at $4,981,000 after purchasing an additional 45,134 shares during the last quarter. Finally, PDT Partners LLC lifted its holdings in shares of Accuray by 60.5% during the second quarter. PDT Partners LLC now owns 156,500 shares of the medical equipment provider’s stock valued at $743,000 after purchasing an additional 58,985 shares during the last quarter. Institutional investors and hedge funds own 78.86% of the company’s stock.

Shares of Accuray (ARAY) opened at $4.55 on Thursday. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.92 and a current ratio of 1.48. Accuray has a twelve month low of $3.60 and a twelve month high of $6.00.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Tuesday, October 24th. The medical equipment provider reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The business had revenue of $91.00 million during the quarter, compared to analyst estimates of $88.26 million. Accuray had a negative return on equity of 55.18% and a negative net margin of 7.49%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. equities analysts anticipate that Accuray will post -0.18 EPS for the current fiscal year.

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About Accuray

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.

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