Accuray (NASDAQ:ARAY) Cut to “Hold” at StockNews.com

Accuray (NASDAQ:ARAY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Accuray Stock Performance

Shares of Accuray stock opened at $1.70 on Friday. The company has a market cap of $170.96 million, a P/E 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 has a 1-year low of $1.40 and a 1-year high of $3.05.

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

Institutional Investors Weigh In On Accuray

A number of hedge funds have recently added to or reduced their stakes in ARAY. Nisa Investment Advisors LLC raised its position 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 purchasing an additional 15,209 shares during the period. AQR Capital Management LLC acquired a new position in Accuray during the second quarter worth $30,000. US Bancorp DE raised its holdings in Accuray by 1,087.7% during 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 bought a new position in shares of Accuray in the third quarter valued at $36,000. Finally, Intech Investment Management LLC acquired a new position in shares of Accuray during the third quarter valued at about $41,000. Institutional investors and hedge funds own 64.08% of the company’s stock.

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.