Dynamic Technology Lab Private Ltd Invests $231,000 in Accuray Incorporated (NASDAQ:ARAY)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Accuray Incorporated (NASDAQ:ARAY) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 128,378 shares of the medical equipment provider’s stock, valued at approximately $231,000.

Other institutional investors have also added to or reduced their stakes in the company. Foundry Partners LLC raised its holdings 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 worth $3,937,000 after acquiring an additional 741,900 shares in the last quarter. Intech Investment Management LLC bought a new stake in Accuray in the third quarter worth $41,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Accuray by 489.1% during 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 purchasing an additional 230,695 shares in the last quarter. Caprock Group LLC bought a new position in Accuray during the third quarter valued at $36,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Accuray in the 3rd quarter worth $57,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Accuray Stock Performance

NASDAQ:ARAY opened at $2.15 on Tuesday. The firm has a market capitalization of $216.23 million, a PE ratio of -12.65 and a beta of 1.40. The stock’s fifty day moving average is $1.86 and its 200 day moving average is $1.85. Accuray Incorporated has a fifty-two week low of $1.40 and a fifty-two week high of $3.05. The company has a debt-to-equity ratio of 3.59, a quick ratio of 0.87 and a current ratio of 1.63.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, meeting 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 quarter in the prior year, the firm posted ($0.03) earnings per share. On average, sell-side analysts anticipate that Accuray Incorporated will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.