Accuray (NASDAQ:ARAY) Shares Scheduled to Reverse Split on Monday, November 9th

Accuray Incorporated (NASDAQ:ARAY) shares are set to reverse split before the market opens on Monday, November 9th. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 8th.

Accuray Stock Up 4.0%

Accuray stock opened at $0.15 on Thursday. The stock’s 50 day moving average price is $0.22 and its 200 day moving average price is $0.36. Accuray has a one year low of $0.12 and a one year high of $1.46. 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 (NASDAQ:ARAY) last issued its quarterly earnings data on Wednesday, August 19th. The medical equipment provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Accuray had a negative net margin of 12.24% and a negative return on equity of 97.85%. The firm had revenue of $100.92 million for the quarter, compared to analyst estimates of $105.30 million.

Wall Street Analyst Weigh In

ARAY has been the subject of several recent research reports. BTIG Research dropped coverage on Accuray in a report on Wednesday, July 8th. They set a “neutral” rating for the company. Weiss Ratings cut Accuray from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARAY. Weber Capital Management LLC ADV bought a new position in Accuray in the 2nd quarter worth about $1,271,652. BlackRock Inc. bought a new stake in shares of Accuray during the second quarter valued at approximately $842,000. Squarepoint Ops LLC raised its holdings in shares of Accuray by 164.7% during the second quarter. Squarepoint Ops LLC now owns 1,448,234 shares of the medical equipment provider’s stock valued at $373,000 after buying an additional 901,158 shares during the last quarter. Susquehanna International Group LLP raised its holdings in shares of Accuray by 2,344.3% during the second quarter. Susquehanna International Group LLP now owns 825,604 shares of the medical equipment provider’s stock valued at $213,000 after buying an additional 791,827 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in Accuray in the 2nd quarter worth approximately $86,000. 64.08% of the stock is owned by institutional investors and hedge funds.

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.