Accuray (NASDAQ:ARAY) Hits New 1-Year Low – Should You Sell?

Shares of Accuray Incorporated (NASDAQ:ARAY) 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. The stock had previously closed at $4.40.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Accuray from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Accuray presently has a consensus rating of “Reduce”.

Accuray Price Performance

The business’s 50 day moving average price is $8.15 and its 200 day moving average price is $13.91. The company has a quick ratio of 0.74, a current ratio of 1.56 and a debt-to-equity ratio of 1.79.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, August 19th. The medical equipment provider reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.40. The business had revenue of $100.92 million during the quarter, compared to analyst estimates of $105.30 million. Accuray had a negative net margin of 4.41% and a negative return on equity of 35.36%.

Institutional Trading of Accuray

Several large investors have recently added to or reduced their stakes in ARAY. Williams & Novak LLC raised its position in Accuray by 30.9% in the second quarter. Williams & Novak LLC now owns 238,230 shares of the medical equipment provider’s stock worth $61,000 after acquiring an additional 56,200 shares during the period. Williams & Novak Wealth Management LLC increased its stake in shares of Accuray by 27.3% in the 3rd quarter. Williams & Novak Wealth Management LLC now owns 303,330 shares of the medical equipment provider’s stock worth $82,000 after purchasing an additional 65,100 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Accuray in the 2nd quarter worth $28,000. Hsbc Holdings PLC bought a new position in Accuray in the 2nd quarter worth $29,000. Finally, Silverback Asset Management LLC raised its holdings in Accuray by 7.7% in the 1st 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 during the period. 64.08% of the stock is currently owned by institutional investors.

About Accuray

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.