Accuray (NASDAQ:ARAY) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a sell rating in a research note published on Sunday morning.

A number of other brokerages also recently commented on ARAY. BTIG Research lowered their price target on shares of Accuray from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Accuray in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.00.

Accuray Trading Down 0.2%

ARAY stock opened at $0.80 on Friday. The firm has a fifty day moving average price of $1.11 and a 200 day moving average price of $1.36. Accuray has a fifty-two week low of $0.78 and a fifty-two week high of $2.95. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.76 and a current ratio of 1.56. The firm has a market cap of $91.06 million, a PE ratio of -5.02 and a beta of 1.06.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). Accuray had a negative net margin of 4.28% and a negative return on equity of 34.06%. The business had revenue of $93.94 million for the quarter, compared to analysts’ expectations of $91.34 million. Sell-side analysts anticipate that Accuray will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accuray

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in Accuray during the third quarter worth $35,000. Tower Research Capital LLC TRC grew its position in shares of Accuray by 604.2% in the 2nd 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 raised its stake in shares of Accuray by 32.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,369 shares of the medical equipment provider’s stock worth $66,000 after acquiring an additional 9,633 shares in the last quarter. Teton Advisors LLC purchased a new stake in Accuray during the third quarter valued at approximately $67,000. Finally, R Squared Ltd lifted its holdings in shares of Accuray by 94.0% during the 3rd quarter. R Squared Ltd now owns 40,550 shares of the medical equipment provider’s stock valued at $68,000 after purchasing an additional 19,648 shares during the last quarter. Hedge funds and other institutional investors own 64.08% of the company’s stock.

About Accuray

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.