Accuray (NASDAQ:ARAY) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Accuray Price Performance

ARAY stock traded up $0.04 during trading hours on Thursday, hitting $2.13. 465,062 shares of the stock traded hands, compared to its average volume of 662,196. The company has a current ratio of 1.66, a quick ratio of 0.95 and a debt-to-equity ratio of 3.65. The stock has a 50-day simple moving average of $1.89 and a 200 day simple moving average of $1.84. Accuray has a one year low of $1.40 and a one year high of $3.05. The company has a market cap of $213.58 million, a P/E ratio of -12.24 and a beta of 1.40.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Accuray had a negative return on equity of 33.65% and a negative net margin of 3.48%. The business had revenue of $101.55 million during the quarter, compared to the consensus estimate of $98.10 million. During the same period in the prior year, the business posted ($0.03) earnings per share. Equities analysts forecast that Accuray will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARAY. Nisa Investment Advisors LLC grew its position in Accuray by 253,483.3% in the second quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 15,209 shares in the last quarter. AQR Capital Management LLC acquired a new position in Accuray during the second quarter worth $30,000. US Bancorp DE lifted its position in shares of Accuray by 1,087.7% in the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 16,316 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Accuray in the third quarter worth about $36,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Accuray during the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

About Accuray

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.