Accuray Incorporated (NASDAQ:ARAY) Sees Significant Increase in Short Interest

Accuray Incorporated (NASDAQ:ARAY) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 6,040,000 shares, a growth of 7.3% from the June 15th total of 5,630,000 shares. Based on an average trading volume of 665,300 shares, the days-to-cover ratio is presently 9.1 days.

Insiders Place Their Bets

In other news, Director Joseph E. Whitters bought 50,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $1.54 per share, for a total transaction of $77,000.00. Following the completion of the acquisition, the director now directly owns 511,053 shares in the company, valued at approximately $787,021.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.78% of the company’s stock.

Institutional Trading of Accuray

Several hedge funds have recently added to or reduced their stakes in ARAY. North Star Investment Management Corp. raised its stake in shares of Accuray by 16.8% in the fourth quarter. North Star Investment Management Corp. now owns 1,095,920 shares of the medical equipment provider’s stock valued at $3,101,000 after buying an additional 157,975 shares during the period. Dynamic Advisor Solutions LLC boosted its position in Accuray by 39.8% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 32,155 shares of the medical equipment provider’s stock worth $89,000 after purchasing an additional 9,155 shares during the period. SG Americas Securities LLC boosted its position in Accuray by 28.0% during the fourth quarter. SG Americas Securities LLC now owns 45,862 shares of the medical equipment provider’s stock worth $130,000 after purchasing an additional 10,046 shares during the period. Silverberg Bernstein Capital Management LLC purchased a new position in shares of Accuray in the fourth quarter worth about $1,194,000. Finally, Williams & Novak LLC bought a new stake in shares of Accuray in the fourth quarter valued at approximately $76,000. Institutional investors own 64.08% of the company’s stock.

Accuray Stock Performance

Shares of Accuray stock opened at $1.80 on Friday. The business’s fifty day simple moving average is $1.73 and its 200 day simple moving average is $2.24. The company has a current ratio of 1.58, a quick ratio of 0.78 and a debt-to-equity ratio of 4.05. Accuray has a 12 month low of $1.46 and a 12 month high of $4.30. The firm has a market capitalization of $178.63 million, a P/E ratio of -8.18 and a beta of 1.45.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, May 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The business had revenue of $101.13 million for the quarter, compared to analysts’ expectations of $114.60 million. Accuray had a negative net margin of 4.99% and a negative return on equity of 44.46%. During the same period in the prior year, the business earned $0.01 earnings per share. As a group, analysts anticipate that Accuray will post -0.16 EPS for the current year.

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.