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

Accuray (NASDAQ:ARAY) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Accuray Trading Down 3.9 %

Accuray stock opened at $1.74 on Friday. Accuray has a 52-week low of $1.40 and a 52-week high of $3.05. The company has a market cap of $174.99 million, a P/E ratio of -10.23 and a beta of 1.40. 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 business has a 50-day simple moving average of $1.87 and a two-hundred day simple moving average of $1.83.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). The business 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 period in the prior year, the company earned ($0.03) earnings per share. Analysts predict that Accuray will post 0.01 EPS for the current year.

Institutional Trading of Accuray

A number of hedge funds and other institutional investors have recently bought and sold shares of ARAY. Foundry Partners LLC grew its stake in shares of Accuray by 51.3% during the 3rd 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 during the period. Armistice Capital LLC purchased a new position in Accuray during the second quarter valued at approximately $910,000. Los Angeles Capital Management LLC bought a new position in shares of Accuray in the third quarter worth approximately $418,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of 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 worth $500,000 after purchasing an additional 230,695 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Accuray by 1,650.6% in the third quarter. BNP Paribas Financial Markets now owns 146,384 shares of the medical equipment provider’s stock worth $263,000 after purchasing an additional 138,022 shares in the last quarter. Hedge funds and other 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.