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

Accuray (NASDAQ:ARAY) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

ARAY has been the topic of several other reports. BTIG Research dropped their price target on shares of Accuray from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Accuray in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.00.

Accuray Stock Performance

ARAY opened at $0.83 on Friday. The business has a 50 day moving average price of $1.14 and a two-hundred day moving average price of $1.36. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.56 and a quick ratio of 0.76. The company has a market capitalization of $93.54 million, a price-to-earnings ratio of -5.16 and a beta of 1.06. Accuray has a 1-year low of $0.81 and a 1-year high of $2.95.

Accuray (NASDAQ:ARAY) last posted 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 firm had revenue of $93.94 million during the quarter, compared to the consensus estimate of $91.34 million. Accuray had a negative return on equity of 34.06% and a negative net margin of 4.28%. Research analysts predict that Accuray will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Accuray

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acuitas Investments LLC grew its position in Accuray by 67.7% during the 3rd quarter. Acuitas Investments LLC now owns 2,392,126 shares of the medical equipment provider’s stock worth $3,995,000 after purchasing an additional 966,100 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Accuray by 52.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 523,145 shares of the medical equipment provider’s stock worth $874,000 after buying an additional 179,745 shares during the period. Armistice Capital LLC grew its holdings in shares of Accuray by 2.7% during the third quarter. Armistice Capital LLC now owns 3,324,000 shares of the medical equipment provider’s stock valued at $5,551,000 after buying an additional 88,000 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Accuray during the third quarter valued at $35,000. Finally, Citadel Advisors LLC raised its position in Accuray by 9,301.4% during the third quarter. Citadel Advisors LLC now owns 662,499 shares of the medical equipment provider’s stock valued at $1,106,000 after buying an additional 669,699 shares during the period. Institutional investors and hedge funds own 64.08% of the company’s stock.

Accuray Company Profile

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.