Accuray (NASDAQ:ARAY) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Accuray (NASDAQ:ARAY) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Other equities analysts have also recently issued reports about the stock. BTIG Research reduced their price target on shares of 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 reaffirmed a “sell (d-)” rating on shares of Accuray in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.00.

Accuray Price Performance

Accuray stock opened at $0.58 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $65.51 million, a P/E ratio of -1.99 and a beta of 1.15. The business has a 50-day moving average of $0.87 and a 200-day moving average of $1.25. Accuray has a 1 year low of $0.54 and a 1 year high of $2.55.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $100.86 million. Accuray had a negative net margin of 8.15% and a negative return on equity of 57.29%. On average, equities analysts anticipate that Accuray will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in Accuray in the 3rd quarter valued at $35,000. Tower Research Capital LLC TRC grew its holdings in shares of Accuray by 604.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 35,177 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 30,182 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Accuray by 32.4% in the third quarter. BNP Paribas Financial Markets now owns 39,369 shares of the medical equipment provider’s stock valued at $66,000 after acquiring an additional 9,633 shares during the last quarter. Teton Advisors LLC bought a new stake in Accuray during the third quarter worth about $67,000. Finally, R Squared Ltd boosted its position in Accuray by 94.0% during the third quarter. R Squared Ltd now owns 40,550 shares of the medical equipment provider’s stock valued at $68,000 after purchasing an additional 19,648 shares during the last quarter. Institutional investors and hedge funds 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.