Accuray (NASDAQ:ARAY) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Accuray (NASDAQ:ARAY) from a buy rating to a hold rating in a report issued on Friday.

Accuray Stock Down 2.3 %

Shares of NASDAQ:ARAY traded down $0.04 during trading on Friday, hitting $1.70. The stock had a trading volume of 639,643 shares, compared to its average volume of 663,084. The company has a quick ratio of 0.87, a current ratio of 1.63 and a debt-to-equity ratio of 3.59. Accuray has a 12 month low of $1.40 and a 12 month high of $3.05. The company has a market capitalization of $170.97 million, a PE ratio of -10.00 and a beta of 1.40. The firm’s fifty day moving average is $1.86 and its 200 day moving average is $1.83.

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

Hedge Funds Weigh In On Accuray

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Accuray by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,179,396 shares of the medical equipment provider’s stock worth $3,924,000 after purchasing an additional 45,548 shares in the last quarter. Barclays PLC raised its position in Accuray by 97.9% in the 3rd quarter. Barclays PLC now owns 210,819 shares of the medical equipment provider’s stock worth $380,000 after buying an additional 104,310 shares during the last quarter. XTX Topco Ltd bought a new position in Accuray during the 3rd quarter valued at about $249,000. Jane Street Group LLC boosted its holdings in shares of Accuray by 26.1% during the 3rd quarter. Jane Street Group LLC now owns 161,653 shares of the medical equipment provider’s stock valued at $291,000 after acquiring an additional 33,417 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Accuray by 3.8% in the third quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider’s stock worth $3,410,000 after acquiring an additional 70,008 shares during the period. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

Accuray Company Profile

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.