Accuray (NASDAQ:ARAY) Hits New 1-Year Low – Time to Sell?

Accuray Incorporated (NASDAQ:ARAY)’s stock price reached a new 52-week low on Monday. The stock traded as low as $4.04 and last traded at $3.9950, with a volume of 104 shares trading hands. The stock had previously closed at $4.40.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Accuray from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Accuray has an average rating of “Reduce”.

Accuray Stock Performance

The company has a current ratio of 1.50, a quick ratio of 0.74 and a debt-to-equity ratio of 3.51. The stock has a market capitalization of $434.59 million, a price-to-earnings ratio of -24.19 and a beta of 1.38. The firm’s fifty day moving average price is $0.21 and its 200 day moving average price is $0.36.

Accuray (NASDAQ:ARAY) last posted its earnings results on Wednesday, August 19th. The medical equipment provider reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.40. The firm had revenue of $100.92 million during the quarter, compared to the consensus estimate of $105.30 million. Accuray had a negative net margin of 4.41% and a negative return on equity of 36.82%.

Hedge Funds Weigh In On Accuray

A number of institutional investors and hedge funds have recently made changes to their positions in ARAY. Williams & Novak LLC lifted its stake in Accuray by 30.9% during the second quarter. Williams & Novak LLC now owns 238,230 shares of the medical equipment provider’s stock worth $61,000 after purchasing an additional 56,200 shares during the last quarter. Williams & Novak Wealth Management LLC increased its stake in Accuray by 27.3% in the third quarter. Williams & Novak Wealth Management LLC now owns 303,330 shares of the medical equipment provider’s stock valued at $82,000 after purchasing an additional 65,100 shares during the last quarter. Bank of America Corp DE purchased a new position in Accuray in the second quarter valued at approximately $28,000. Hsbc Holdings PLC purchased a new position in Accuray in the second quarter valued at approximately $29,000. Finally, Silverback Asset Management LLC raised its holdings in Accuray by 7.7% during the first quarter. Silverback Asset Management LLC now owns 1,650,000 shares of the medical equipment provider’s stock worth $640,000 after purchasing an additional 117,481 shares in the last quarter. 64.08% of the stock is owned by institutional investors and hedge funds.

Accuray Company Profile

Accuray Incorporated develops, manufactures and supports radiation oncology systems used to treat cancer. The company focuses on precision radiotherapy technologies designed to deliver targeted radiation while helping clinicians manage treatment complexity and limit exposure to surrounding healthy tissue.

Its principal product platforms include the CyberKnife System, a robotic, image-guided radiation therapy system used for radiosurgery and stereotactic body radiation therapy, and the Radixact System, an image-guided tomotherapy platform designed to deliver highly conformal radiation treatments.