Accuray (NASDAQ:ARAY) Raised to “Hold” at Wall Street Zen

Accuray (NASDAQ:ARAY) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, BTIG Research lifted their price target on Accuray from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $5.00.

Accuray Price Performance

ARAY stock opened at $1.57 on Friday. The company has a market capitalization of $176.90 million, a P/E ratio of -78.50 and a beta of 1.26. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.92 and a current ratio of 1.65. Accuray has a 52-week low of $1.14 and a 52-week high of $2.95. The business has a 50-day simple moving average of $1.44 and a two-hundred day simple moving average of $1.52.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Wednesday, August 13th. The medical equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $127.54 million for the quarter, compared to analyst estimates of $123.78 million. Accuray had a negative net margin of 0.35% and a negative return on equity of 4.92%. Accuray has set its FY 2026 guidance at EPS. Research analysts expect that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Accuray

A number of hedge funds have recently modified their holdings of ARAY. Ameriprise Financial Inc. bought a new stake in shares of Accuray in the 4th quarter worth approximately $35,000. Tower Research Capital LLC TRC raised its holdings 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 purchasing an additional 30,182 shares during the period. ProShare Advisors LLC raised its holdings in Accuray by 50.7% during the 4th quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 9,187 shares during the period. Williams & Novak LLC raised its holdings in Accuray by 25.5% during the 2nd quarter. Williams & Novak LLC now owns 68,970 shares of the medical equipment provider’s stock valued at $94,000 after acquiring an additional 14,000 shares during the period. Finally, Deutsche Bank AG raised its holdings in Accuray by 44.0% during the 1st quarter. Deutsche Bank AG now owns 60,606 shares of the medical equipment provider’s stock valued at $108,000 after acquiring an additional 18,526 shares during the period. Institutional investors own 64.08% of the company’s stock.

About Accuray

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.