Accuray (NASDAQ:ARAY) Given “Neutral” Rating at BTIG Research

BTIG Research reissued their neutral rating on shares of Accuray (NASDAQ:ARAY) in a research report sent to investors on Wednesday,Benzinga reports.

ARAY has been the topic of a number of other research reports. Jefferies Financial Group cut shares of Accuray from a “buy” rating to a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings raised Accuray from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Accuray has an average rating of “Reduce” and an average price target of $2.00.

Accuray Trading Up 1.6%

Shares of Accuray stock opened at $0.25 on Wednesday. The firm has a market cap of $30.10 million, a PE ratio of -0.68 and a beta of 1.39. Accuray has a 1 year low of $0.24 and a 1 year high of $2.10. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.42 and a quick ratio of 0.66. The stock has a fifty day moving average price of $0.33 and a 200-day moving average price of $0.51.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, May 6th. The medical equipment provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The company had revenue of $104.85 million during the quarter, compared to analysts’ expectations of $111.90 million. Accuray had a negative return on equity of 79.43% and a negative net margin of 10.76%.

Hedge Funds Weigh In On Accuray

Several hedge funds have recently made changes to their positions in the stock. Weber Capital Management LLC ADV bought a new position in Accuray in the 4th quarter valued at $4,169,000. JPMorgan Chase & Co. increased its holdings in shares of Accuray by 266.0% in the third quarter. JPMorgan Chase & Co. now owns 182,494 shares of the medical equipment provider’s stock worth $305,000 after purchasing an additional 132,628 shares during the period. Silverberg Bernstein Capital Management LLC increased its holdings in shares of Accuray by 2.4% in the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 648,548 shares of the medical equipment provider’s stock worth $535,000 after purchasing an additional 15,300 shares during the period. Acuitas Investments LLC increased its holdings in shares of Accuray by 67.7% in the third 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 during the period. Finally, Silverback Asset Management LLC raised its position in shares of Accuray by 7.7% in the first quarter. Silverback Asset Management LLC now owns 1,650,000 shares of the medical equipment provider’s stock worth $640,000 after buying an additional 117,481 shares in the last quarter. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

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.