Shares of Accuray Incorporated (NASDAQ:ARAY – Free Report) are going to reverse split on the morning of Monday, November 9th. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 8th.
Accuray Stock Performance
NASDAQ:ARAY opened at $0.15 on Thursday. The firm has a market capitalization of $17.83 million, a price-to-earnings ratio of -0.37 and a beta of 1.38. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.50 and a quick ratio of 0.74. Accuray has a 1-year low of $0.12 and a 1-year high of $1.46. The company’s 50-day moving average is $0.22 and its two-hundred day moving average is $0.36.
Accuray (NASDAQ:ARAY – Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The medical equipment provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $100.92 million during the quarter, compared to analysts’ expectations of $105.30 million. Accuray had a negative return on equity of 97.85% and a negative net margin of 12.24%.
Analysts Set New Price Targets
ARAY has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Accuray from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. BTIG Research dropped coverage on Accuray in a research note on Wednesday, July 8th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.
Read Our Latest Stock Report on ARAY
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in ARAY. Bank of America Corp DE purchased a new position in Accuray in the 2nd quarter valued at about $28,000. Hsbc Holdings PLC bought a new stake in Accuray during the second quarter worth approximately $29,000. Williams & Novak LLC boosted its holdings in Accuray by 30.9% during the second quarter. Williams & Novak LLC now owns 238,230 shares of the medical equipment provider’s stock worth $61,000 after buying an additional 56,200 shares in the last quarter. Williams & Novak Wealth Management LLC increased its position in shares of Accuray by 27.3% in the third quarter. Williams & Novak Wealth Management LLC now owns 303,330 shares of the medical equipment provider’s stock worth $82,000 after acquiring an additional 65,100 shares in the last quarter. Finally, Ieq Capital LLC acquired a new position in shares of Accuray in the 2nd quarter valued at about $86,000. 64.08% of the stock is owned by hedge funds and other institutional investors.
Accuray Company Profile
Accuray Incorporated develops, manufactures and supports radiation oncology systems used to treat cancer. The company focuses on precision radiotherapy technologies designed to deliver targeted radiation while helping clinicians manage treatment complexity and limit exposure to surrounding healthy tissue.
Its principal product platforms include the CyberKnife System, a robotic, image-guided radiation therapy system used for radiosurgery and stereotactic body radiation therapy, and the Radixact System, an image-guided tomotherapy platform designed to deliver highly conformal radiation treatments.
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