Accuray Incorporated (NASDAQ:ARAY) Short Interest Update

Accuray Incorporated (NASDAQ:ARAY) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 6,598,752 shares, a growth of 20.6% from the February 26th total of 5,471,116 shares. Approximately 5.8% of the company’s shares are short sold. Based on an average daily volume of 1,534,107 shares, the short-interest ratio is presently 4.3 days.

Accuray Stock Performance

Shares of ARAY opened at $0.34 on Tuesday. The company has a 50-day simple moving average of $0.57 and a two-hundred day simple moving average of $1.01. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.47 and a quick ratio of 0.71. The firm has a market capitalization of $40.41 million, a PE ratio of -1.17 and a beta of 1.19. Accuray has a one year low of $0.33 and a one year high of $2.10.

Accuray (NASDAQ:ARAY) last posted its earnings results on Wednesday, February 4th. The medical equipment provider reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Accuray had a negative return on equity of 59.81% and a negative net margin of 8.15%.The firm had revenue of $102.24 million for the quarter, compared to the consensus estimate of $100.86 million. On average, analysts anticipate that Accuray will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Accuray

A number of institutional investors have recently added to or reduced their stakes in ARAY. Virtu Financial LLC purchased a new position in Accuray during the fourth quarter valued at $137,000. Invesco Ltd. boosted its holdings in shares of Accuray by 52.7% during the 4th quarter. Invesco Ltd. now owns 245,000 shares of the medical equipment provider’s stock valued at $202,000 after buying an additional 84,528 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Accuray by 76.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,918,086 shares of the medical equipment provider’s stock worth $1,538,000 after buying an additional 831,220 shares during the period. Oxford Asset Management LLP purchased a new stake in shares of Accuray in the 4th quarter worth about $44,000. Finally, Bridgeway Capital Management LLC increased its stake in shares of Accuray by 34.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 174,425 shares of the medical equipment provider’s stock worth $144,000 after acquiring an additional 45,025 shares in the last quarter. Institutional investors own 64.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ARAY. BTIG Research cut their price objective on Accuray from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Accuray in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Accuray from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.00.

About Accuray

Accuray Incorporated (NASDAQ: ARAY) is a global medical device company that develops, manufactures and markets innovative radiation therapy solutions for the treatment of cancer. The company’s flagship products include the CyberKnife® System, a robotic radiosurgery platform offering sub-millimeter precision, and the TomoTherapy® System, which combines helical computed tomography (CT) imaging with intensity-modulated radiation therapy (IMRT). More recently, Accuray introduced the Radixact® System, an advanced iteration of its TomoTherapy technology designed to enhance treatment speed and clinical workflow.

Accuray’s suite of products enables clinicians to deliver highly targeted radiation doses while minimizing exposure to surrounding healthy tissue.