Accuray Incorporated (NASDAQ:ARAY) Sees Significant Decline in Short Interest

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Armistice Capital LLC acquired a new stake in shares of Accuray in the second quarter valued at approximately $910,000. Foundry Partners LLC increased its position in Accuray by 51.3% in the 3rd quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock valued at $3,937,000 after acquiring an additional 741,900 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Accuray by 9.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock valued at $181,000 after acquiring an additional 6,583 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Accuray by 489.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock worth $500,000 after acquiring an additional 230,695 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Accuray in the second quarter worth $132,000. 64.08% of the stock is owned by institutional investors and hedge funds.

Accuray Stock Down 3.6 %

NASDAQ:ARAY opened at $2.15 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 0.87 and a debt-to-equity ratio of 3.59. The stock has a 50 day moving average of $1.86 and a 200-day moving average of $1.85. The firm has a market capitalization of $216.23 million, a PE ratio of -12.65 and a beta of 1.40. Accuray has a 52 week low of $1.40 and a 52 week high of $3.05.

Accuray (NASDAQ:ARAYGet Free Report) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Accuray had a negative return on equity of 36.93% and a negative net margin of 3.72%. The firm had revenue of $101.55 million for the quarter, compared to analyst estimates of $98.10 million. During the same period last year, the company earned ($0.03) earnings per share. Analysts predict that Accuray will post 0.01 EPS for the current year.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on ARAY

Accuray Company Profile

(Get Free Report)

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.

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