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

Accuray (NASDAQ:ARAY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Accuray Trading Down 3.9 %

ARAY stock opened at $1.74 on Friday. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.63 and a quick ratio of 0.87. Accuray has a 1-year low of $1.40 and a 1-year high of $3.05. The business has a 50 day simple moving average of $1.87 and a two-hundred day simple moving average of $1.83. The company has a market capitalization of $174.99 million, a price-to-earnings ratio of -10.23 and a beta of 1.40.

Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $101.55 million during the quarter, compared to analyst estimates of $98.10 million. Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Research analysts anticipate that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Accuray

Large investors have recently made changes to their positions in the company. Foundry Partners LLC boosted its stake in Accuray by 51.3% during the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock valued at $3,937,000 after buying an additional 741,900 shares during the last quarter. Armistice Capital LLC purchased a new stake in shares of Accuray during the 2nd quarter worth approximately $910,000. Los Angeles Capital Management LLC bought a new position in shares of Accuray during the 3rd quarter valued at approximately $418,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Accuray by 489.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock valued at $500,000 after purchasing an additional 230,695 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Accuray by 1,650.6% in 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. 64.08% of the stock is owned by institutional investors.

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.