Short Interest in Viewray Inc (VRAY) Increases By 20.7%

Viewray Inc (NASDAQ:VRAY) saw a significant growth in short interest in the month of September. As of September 28th, there was short interest totalling 16,723,336 shares, a growth of 20.7% from the September 14th total of 13,858,513 shares. Based on an average daily volume of 1,506,200 shares, the days-to-cover ratio is currently 11.1 days. Approximately 26.1% of the company’s shares are short sold.

Several equities research analysts recently issued reports on the company. BidaskClub downgraded Viewray from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. BTIG Research reiterated a “buy” rating and issued a $14.00 price objective on shares of Viewray in a report on Tuesday, August 7th. Cantor Fitzgerald reiterated a “buy” rating and issued a $13.00 price objective on shares of Viewray in a report on Wednesday, October 3rd. Mizuho reiterated a “buy” rating and issued a $13.00 price objective on shares of Viewray in a report on Monday, August 6th. Finally, ValuEngine upgraded Viewray from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $12.58.

In related news, insider Fmr Llc sold 295,850 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $12.08, for a total value of $3,573,868.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder International Ltd Fosun acquired 2,702,702 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average price of $9.25 per share, for a total transaction of $24,999,993.50. The disclosure for this purchase can be found here. Insiders sold 3,436,496 shares of company stock worth $36,326,958 in the last 90 days. Company insiders own 43.93% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pennsylvania Trust Co grew its stake in Viewray by 130.6% during the 3rd quarter. Pennsylvania Trust Co now owns 95,945 shares of the company’s stock worth $898,000 after purchasing an additional 54,335 shares in the last quarter. Northern Trust Corp grew its stake in Viewray by 61.1% during the 2nd quarter. Northern Trust Corp now owns 545,384 shares of the company’s stock worth $3,775,000 after purchasing an additional 206,783 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Viewray by 56.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 163,001 shares of the company’s stock worth $1,128,000 after purchasing an additional 58,907 shares in the last quarter. B. Riley Financial Inc. acquired a new position in Viewray during the 2nd quarter worth $334,000. Finally, MetLife Investment Advisors LLC acquired a new position in Viewray during the 2nd quarter worth $176,000. 91.37% of the stock is owned by hedge funds and other institutional investors.

VRAY stock opened at $8.74 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.64 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $703.93 million, a P/E ratio of -8.40 and a beta of 1.11. Viewray has a 12-month low of $5.50 and a 12-month high of $13.21.

Viewray (NASDAQ:VRAY) last released its earnings results on Friday, August 3rd. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.09). Viewray had a negative return on equity of 353.05% and a negative net margin of 83.84%. The company had revenue of $16.44 million for the quarter, compared to analyst estimates of $15.97 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was up 2255.3% compared to the same quarter last year. On average, research analysts expect that Viewray will post -0.76 EPS for the current year.

About Viewray

ViewRay, Inc designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Company offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered.

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