StockNews.com Downgrades Accuray (NASDAQ:ARAY) to Hold

Accuray (NASDAQ:ARAY) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Accuray Trading Down 3.7 %

Shares of Accuray stock opened at $1.82 on Friday. The stock has a market cap of $187.15 million, a P/E ratio of -36.40 and a beta of 1.46. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 3.51. Accuray has a 12-month low of $1.40 and a 12-month high of $2.95. The business’s 50 day moving average is $2.09 and its 200-day moving average is $1.99.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. Equities research analysts predict that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in shares of Accuray by 3.8% in the 3rd quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider’s stock valued at $3,410,000 after buying an additional 70,008 shares in the last quarter. Barclays PLC increased its stake in Accuray by 97.9% in the third quarter. Barclays PLC now owns 210,819 shares of the medical equipment provider’s stock valued at $380,000 after acquiring an additional 104,310 shares during the last quarter. BNP Paribas Financial Markets raised its position in Accuray by 1,650.6% during the third quarter. BNP Paribas Financial Markets now owns 146,384 shares of the medical equipment provider’s stock valued at $263,000 after purchasing an additional 138,022 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Accuray by 489.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock worth $500,000 after purchasing an additional 230,695 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Accuray by 28.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 212,330 shares of the medical equipment provider’s stock valued at $420,000 after purchasing an additional 47,331 shares in the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.

About Accuray

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.