Accuray (NASDAQ:ARAY) Lowered to “Hold” Rating by StockNews.com

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

Accuray Stock Performance

Shares of Accuray stock traded down $0.04 during trading hours on Friday, reaching $1.70. 639,643 shares of the stock traded hands, compared to its average volume of 663,084. The company has a 50 day moving average price of $1.86 and a 200 day moving average price of $1.83. Accuray has a one year low of $1.40 and a one year high of $3.05. The company has a quick ratio of 0.87, a current ratio of 1.63 and a debt-to-equity ratio of 3.59. The firm has a market capitalization of $170.97 million, a price-to-earnings ratio of -10.00 and a beta of 1.40.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. The business had revenue of $101.55 million for the quarter, compared to the consensus estimate of $98.10 million. During the same period last year, the firm earned ($0.03) earnings per share. On average, equities research analysts expect that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ARAY. Nisa Investment Advisors LLC increased its holdings in Accuray by 253,483.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 15,209 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Accuray during the 2nd quarter valued at $30,000. US Bancorp DE raised its position in shares of Accuray by 1,087.7% during the 3rd 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 during the period. Caprock Group LLC purchased a new position in shares of Accuray during the 3rd quarter valued at $36,000. Finally, Intech Investment Management LLC bought a new position in Accuray in the 3rd quarter worth $41,000. Institutional investors 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.