Accuray (NASDAQ:ARAY) Rating Lowered to Hold at StockNews.com

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

Accuray Stock Up 0.9 %

ARAY stock opened at $2.25 on Tuesday. Accuray has a fifty-two week low of $1.40 and a fifty-two week high of $2.95. The business’s 50 day moving average price is $2.15 and its two-hundred day moving average price is $2.00. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. The company has a market capitalization of $231.37 million, a price-to-earnings ratio of -45.00 and a beta of 1.51.

Accuray (NASDAQ:ARAY) last posted its 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%. As a group, analysts forecast that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Accuray

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of Accuray by 1,087.7% in the 3rd quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 16,316 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Accuray in the 4th quarter worth approximately $35,000. Caprock Group LLC purchased a new stake in shares of Accuray in the 3rd quarter worth approximately $36,000. Intech Investment Management LLC purchased a new stake in shares of Accuray in the 3rd quarter worth approximately $41,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Accuray in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors 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.