StockNews.com Downgrades Accuray (NASDAQ:ARAY) to Hold

StockNews.com lowered shares of Accuray (NASDAQ:ARAY) from a buy rating to a hold rating in a research note released on Friday.

Accuray Stock Performance

Shares of NASDAQ ARAY opened at $1.70 on Friday. Accuray has a one year low of $1.40 and a one year high of $3.05. The firm has a market capitalization of $170.97 million, a PE ratio of -10.00 and a beta of 1.40. The company has a current ratio of 1.63, a quick ratio of 0.87 and a debt-to-equity ratio of 3.59. The business has a 50-day moving average price of $1.86 and a two-hundred day moving average price of $1.83.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $101.55 million during the quarter, compared to analyst estimates of $98.10 million. Accuray had a negative return on equity of 36.93% and a negative net margin of 3.72%. During the same period last year, the company posted ($0.03) EPS. As a group, analysts predict that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accuray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Accuray by 253,483.3% during the second quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 15,209 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Accuray in the second quarter valued at $30,000. US Bancorp DE raised its stake 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 valued at $32,000 after purchasing an additional 16,316 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Accuray in the third quarter valued at $36,000. Finally, Intech Investment Management LLC bought a new stake in Accuray in the third quarter valued at $41,000. 64.08% of the stock is currently owned by institutional investors and hedge funds.

Accuray Company Profile

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.