Accuray (NASDAQ:ARAY) Stock Rating Upgraded by StockNews.com

Accuray (NASDAQ:ARAY) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Accuray Trading Up 3.0 %

Shares of Accuray stock traded up $0.06 on Thursday, reaching $2.09. 1,645,853 shares of the company’s stock were exchanged, compared to its average volume of 483,350. The company has a market capitalization of $209.56 million, a P/E ratio of -13.06 and a beta of 1.40. Accuray has a 52 week low of $1.40 and a 52 week high of $3.05. The firm’s 50-day moving average is $1.89 and its two-hundred day moving average is $1.84. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.95 and a current ratio of 1.66.

Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Accuray had a negative return on equity of 33.65% and a negative net margin of 3.48%. The company had revenue of $101.55 million for the quarter, compared to analysts’ expectations of $98.10 million. During the same period last year, the business earned ($0.03) EPS. Sell-side analysts predict that Accuray will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Accuray

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Accuray by 253,483.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 15,209 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Accuray during the 2nd quarter valued at $30,000. US Bancorp DE increased its position in shares of Accuray by 1,087.7% during the 3rd quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 16,316 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Accuray during the 3rd quarter valued at $57,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Accuray during the 3rd quarter valued at $59,000. 64.08% of the stock is 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.