Short Interest in Accuray Incorporated (NASDAQ:ARAY) Increases By 12.3%

Accuray Incorporated (NASDAQ:ARAYGet Free Report) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,030,000 shares, an increase of 12.3% from the December 15th total of 3,590,000 shares. Based on an average trading volume of 624,600 shares, the days-to-cover ratio is presently 6.5 days.

Hedge Funds Weigh In On Accuray

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Foundry Partners LLC raised its holdings in Accuray by 51.3% in the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock valued at $3,937,000 after acquiring an additional 741,900 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Accuray during the 2nd quarter worth $910,000. Los Angeles Capital Management LLC acquired a new position in shares of Accuray during the third quarter worth $418,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Accuray by 489.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock valued at $500,000 after buying an additional 230,695 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Accuray by 143.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 384,944 shares of the medical equipment provider’s stock valued at $693,000 after buying an additional 226,602 shares in the last quarter. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Accuray Trading Down 2.6 %

Shares of ARAY traded down $0.06 during midday trading on Friday, hitting $2.24. 379,586 shares of the stock were exchanged, compared to its average volume of 502,185. The company has a current ratio of 1.63, a quick ratio of 0.87 and a debt-to-equity ratio of 3.59. Accuray has a 52-week low of $1.40 and a 52-week high of $2.99. The stock has a fifty day simple moving average of $1.99 and a 200 day simple moving average of $1.93.

Accuray (NASDAQ:ARAYGet Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $98.10 million. Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, sell-side analysts forecast that Accuray will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Accuray from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Get Our Latest Research Report on ARAY

About Accuray

(Get Free Report)

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.

Further Reading

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