Accuray Incorporated (NASDAQ:ARAY) Short Interest Update

Accuray Incorporated (NASDAQ:ARAY) was the target of a significant growth in short interest in 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. Based on an average trading volume of 1,534,107 shares, the short-interest ratio is currently 4.3 days. Approximately 5.8% of the company’s stock are short sold.

Accuray Stock Performance

Shares of Accuray stock opened at $0.34 on Tuesday. Accuray has a 1 year low of $0.33 and a 1 year high of $2.10. The firm’s 50-day moving average is $0.57 and its 200 day moving average is $1.01. The stock has a market cap of $40.41 million, a price-to-earnings ratio of -1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.47 and a quick ratio of 0.71.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $102.24 million during the quarter, compared to analyst estimates of $100.86 million. Accuray had a negative net margin of 8.15% and a negative return on equity of 59.81%. Sell-side analysts anticipate that Accuray will post 0.01 EPS for the current fiscal year.

Analyst Ratings Changes

ARAY has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Accuray in a research note on Monday, December 29th. Wall Street Zen cut Accuray from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, BTIG Research cut their price target on Accuray from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.00.

Hedge Funds Weigh In On Accuray

A number of hedge funds have recently added to or reduced their stakes in ARAY. Williams & Novak LLC grew its stake in shares of Accuray by 12.3% in the third quarter. Williams & Novak LLC now owns 77,430 shares of the medical equipment provider’s stock worth $129,000 after acquiring an additional 8,460 shares during the period. BNP Paribas Financial Markets lifted its position in Accuray by 32.4% during the third quarter. BNP Paribas Financial Markets now owns 39,369 shares of the medical equipment provider’s stock valued at $66,000 after purchasing an additional 9,633 shares during the period. Silverberg Bernstein Capital Management LLC lifted its position in Accuray by 2.4% during the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 648,548 shares of the medical equipment provider’s stock valued at $535,000 after purchasing an additional 15,300 shares during the period. Perkins Capital Management Inc. boosted its holdings in Accuray by 22.2% in the fourth quarter. Perkins Capital Management Inc. now owns 86,500 shares of the medical equipment provider’s stock worth $71,000 after purchasing an additional 15,700 shares during the last quarter. Finally, R Squared Ltd boosted its holdings in Accuray by 94.0% in the third quarter. R Squared Ltd now owns 40,550 shares of the medical equipment provider’s stock worth $68,000 after purchasing an additional 19,648 shares during the last quarter. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

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.