Accuray Incorporated (NASDAQ:ARAY) Short Interest Down 8.6% in November

Accuray Incorporated (NASDAQ:ARAY) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,600,000 shares, a drop of 8.6% from the October 31st total of 3,940,000 shares. Based on an average daily trading volume, of 633,300 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Investors Weigh In On Accuray

A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Accuray by 13.3% in the second quarter. The Manufacturers Life Insurance Company now owns 44,936 shares of the medical equipment provider’s stock valued at $82,000 after purchasing an additional 5,273 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Accuray by 9.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock worth $181,000 after purchasing an additional 6,583 shares during the period. Renaissance Technologies LLC lifted its position in shares of Accuray by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,812,184 shares of the medical equipment provider’s stock valued at $5,118,000 after buying an additional 7,500 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Accuray by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 279,426 shares of the medical equipment provider’s stock valued at $509,000 after purchasing an additional 8,864 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Accuray by 253,483.3% in the second 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 period. Institutional investors and hedge funds own 64.08% of the company’s stock.

Accuray Stock Down 2.9 %

NASDAQ:ARAY traded down $0.06 on Wednesday, hitting $2.04. The stock had a trading volume of 250,103 shares, compared to its average volume of 662,959. 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 52 week low of $1.40 and a 52 week high of $3.05. The business’s fifty day moving average is $1.87 and its 200 day moving average is $1.85. The company has a market cap of $205.16 million, a PE ratio of -12.35 and a beta of 1.44.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $98.10 million. During the same quarter last year, the firm posted ($0.03) EPS. On average, equities research analysts expect that Accuray will post 0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Accuray from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

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.