Accuray (NASDAQ:ARAY) Receives Neutral Rating from BTIG Research

Accuray (NASDAQ:ARAY)‘s stock had its “neutral” rating reiterated by analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports.

A number of other research firms have also recently weighed in on ARAY. Weiss Ratings raised Accuray from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Jefferies Financial Group lowered shares of Accuray from a “buy” rating to a “hold” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $2.00.

Accuray Trading Down 8.1%

Shares of ARAY stock opened at $0.25 on Wednesday. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.42 and a quick ratio of 0.66. The company has a market cap of $29.63 million, a price-to-earnings ratio of -0.67 and a beta of 1.39. Accuray has a 1 year low of $0.25 and a 1 year high of $2.10. The firm has a fifty day moving average price of $0.34 and a 200-day moving average price of $0.51.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, May 6th. The medical equipment provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The company had revenue of $104.85 million during the quarter, compared to the consensus estimate of $111.90 million. Accuray had a negative return on equity of 79.43% and a negative net margin of 10.76%.

Institutional Trading of Accuray

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in Accuray by 762.3% in the 1st quarter. AQR Capital Management LLC now owns 162,922 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 144,029 shares during the period. Jane Street Group LLC lifted its holdings in shares of Accuray by 429.3% in the first quarter. Jane Street Group LLC now owns 91,944 shares of the medical equipment provider’s stock worth $165,000 after buying an additional 74,574 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Accuray by 7.8% in the second quarter. Geode Capital Management LLC now owns 2,421,724 shares of the medical equipment provider’s stock worth $3,318,000 after buying an additional 174,703 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Accuray during the second quarter worth $820,000. Finally, Sei Investments Co. boosted its position in shares of Accuray by 83.0% during the second quarter. Sei Investments Co. now owns 93,843 shares of the medical equipment provider’s stock worth $129,000 after acquiring an additional 42,557 shares during the last quarter. Institutional investors own 64.08% of the company’s stock.

Accuray Company Profile

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.