Accuray Incorporated (NASDAQ:ARAY) Sees Large Growth in Short Interest

Accuray Incorporated (NASDAQ:ARAY) saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 5,210,000 shares, an increase of 7.9% from the July 31st total of 4,830,000 shares. Based on an average daily volume of 854,500 shares, the days-to-cover ratio is presently 6.1 days.

Accuray Stock Down 3.2 %

Shares of NASDAQ:ARAY opened at $2.11 on Wednesday. Accuray has a 52-week low of $1.40 and a 52-week high of $3.10. The stock has a market cap of $209.40 million, a P/E ratio of -9.59 and a beta of 1.45. The business’s 50 day moving average is $1.89 and its 200 day moving average is $2.05. The company has a quick ratio of 0.78, a current ratio of 1.58 and a debt-to-equity ratio of 4.05.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Wednesday, August 14th. The medical equipment provider reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Accuray had a negative return on equity of 33.39% and a negative net margin of 3.48%. The company had revenue of $134.29 million for the quarter, compared to analysts’ expectations of $122.80 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. Sell-side analysts predict that Accuray will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC bought a new stake in Accuray during the 4th quarter valued at $140,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Accuray by 22.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 56,104 shares of the medical equipment provider’s stock valued at $151,000 after acquiring an additional 10,264 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Accuray during the 4th quarter valued at $29,000. Price T Rowe Associates Inc. MD boosted its position in Accuray by 9.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock valued at $181,000 after acquiring an additional 6,583 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Accuray during the 2nd quarter valued at $132,000. 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, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, 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.