Accuray (NASDAQ:ARAY) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Accuray Incorporated (NASDAQ:ARAY) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.02 and traded as high as $2.09. Accuray shares last traded at $2.02, with a volume of 571,793 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th.

Accuray Price Performance

The firm has a market cap of $207.72 million, a price-to-earnings ratio of -40.40 and a beta of 1.51. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 3.51. The business’s 50-day simple moving average is $2.16 and its two-hundred day simple moving average is $2.02.

Accuray (NASDAQ:ARAY) last announced 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 net margin of 0.96% and a negative return on equity of 9.75%. As a group, research analysts expect that Accuray Incorporated will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Accuray during the third quarter worth approximately $59,000. Assenagon Asset Management S.A. grew its position in shares of Accuray by 127.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 164,999 shares of the medical equipment provider’s stock worth $297,000 after buying an additional 92,357 shares during the period. US Bancorp DE increased 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 valued at $32,000 after acquiring an additional 16,316 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Accuray during the 3rd quarter valued at $418,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Accuray during the 3rd quarter valued at $57,000. 64.08% of the stock is owned by institutional investors and hedge funds.

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.