Wall Street Zen Downgrades Accuray (NASDAQ:ARAY) to Hold

Accuray (NASDAQ:ARAY) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Accuray Stock Down 2.5%

NASDAQ:ARAY opened at $1.58 on Wednesday. Accuray has a twelve month low of $1.28 and a twelve month high of $2.95. The company has a market cap of $162.76 million, a price-to-earnings ratio of -31.60 and a beta of 1.30. The stock has a fifty day simple moving average of $1.61 and a 200-day simple moving average of $1.90. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 3.51.

Accuray (NASDAQ:ARAY) last released its earnings results on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. The business had revenue of $113.24 million during the quarter, compared to the consensus estimate of $101.53 million. Analysts anticipate that Accuray will post 0.01 EPS for the current year.

Institutional Trading of Accuray

Several institutional investors and hedge funds have recently modified their holdings of ARAY. Armistice Capital LLC raised its position in Accuray by 105.2% during the 1st quarter. Armistice Capital LLC now owns 2,536,000 shares of the medical equipment provider’s stock valued at $4,539,000 after purchasing an additional 1,300,000 shares in the last quarter. Acuitas Investments LLC raised its holdings in shares of Accuray by 100.4% in the 1st quarter. Acuitas Investments LLC now owns 1,420,207 shares of the medical equipment provider’s stock valued at $2,542,000 after purchasing an additional 711,654 shares in the last quarter. Heartland Advisors Inc. raised its stake in Accuray by 14.1% in the fourth quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider’s stock worth $7,573,000 after buying an additional 472,800 shares in the last quarter. Mackenzie Financial Corp raised its stake in Accuray by 168.8% in the first quarter. Mackenzie Financial Corp now owns 733,347 shares of the medical equipment provider’s stock worth $1,313,000 after buying an additional 460,501 shares in the last quarter. Finally, Nuveen LLC bought a new position in Accuray in the first quarter worth approximately $609,000. 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.