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

Accuray (NASDAQ:ARAY) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research firms have also recently weighed in on ARAY. BTIG Research lowered their price objective on shares of Accuray from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Accuray in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Accuray currently has an average rating of “Hold” and an average price target of $2.00.

Accuray Trading Up 3.3%

Shares of ARAY opened at $0.62 on Friday. The business’s 50-day moving average price is $0.88 and its 200 day moving average price is $1.26. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $70.27 million, a P/E ratio of -2.14 and a beta of 1.15. Accuray has a 1-year low of $0.54 and a 1-year high of $2.69.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Accuray had a negative net margin of 8.15% and a negative return on equity of 57.29%. The company had revenue of $102.24 million during the quarter, compared to analysts’ expectations of $100.86 million. Analysts expect that Accuray will post 0.01 earnings per share for the current year.

Institutional Trading of Accuray

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in Accuray in the 3rd quarter worth about $35,000. Tower Research Capital LLC TRC increased 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 buying an additional 30,182 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Accuray by 32.4% in the third quarter. BNP Paribas Financial Markets now owns 39,369 shares of the medical equipment provider’s stock worth $66,000 after buying an additional 9,633 shares during the last quarter. Teton Advisors LLC bought a new position in Accuray during the third quarter valued at approximately $67,000. Finally, R Squared Ltd lifted its stake in Accuray by 94.0% in the third quarter. R Squared Ltd now owns 40,550 shares of the medical equipment provider’s stock valued at $68,000 after acquiring an additional 19,648 shares during the last quarter. 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.