BTIG Research Issues Positive Forecast for Accuray (NASDAQ:ARAY) Stock Price

Key Points

• BTIG Research has raised the price target for Accuray (NASDAQ:ARAY) from $4.00 to $5.00, indicating a potential upside of 235.57% from the current stock price.
• Accuray was recently upgraded from a "hold" rating to a "buy" rating by Wall Street Zen.
• The company's recent earnings report showed an EPS of $0.01, missing the consensus estimate, despite a revenue of $127.54 million surpassing expectations.

Accuray (NASDAQ:ARAY - Free Report) had its target price boosted by BTIG Research from $4.00 to $5.00 in a research report released on Thursday morning, MarketBeat reports. BTIG Research currently has a buy rating on the medical equipment provider's stock.

Separately, Wall Street Zen raised Accuray from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $5.00.

Accuray Trading Down 5.2%

Shares of ARAY stock traded down $0.0850 during mid-day trading on Thursday, hitting $1.5350. The company's stock had a trading volume of 793,708 shares, compared to its average volume of 772,856. The company's fifty day simple moving average is $1.35 and its 200-day simple moving average is $1.62. Accuray has a 52 week low of $1.1401 and a 52 week high of $2.95. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.92 and a current ratio of 1.64. The company has a market cap of $172.90 million, a PE ratio of -76.75 and a beta of 1.24.

Accuray (NASDAQ:ARAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The medical equipment provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Accuray had a negative return on equity of 5.79% and a negative net margin of 0.35%.The business had revenue of $127.54 million during the quarter, compared to the consensus estimate of $123.78 million. Accuray has set its FY 2026 guidance at EPS. As a group, equities research analysts expect that Accuray will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accuray

Several institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in shares of Accuray by 604.2% in the second quarter. Tower Research Capital LLC TRC now owns 35,177 shares of the medical equipment provider's stock valued at $48,000 after acquiring an additional 30,182 shares in the last quarter. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in shares of Accuray during the second quarter worth $2,055,000. Globeflex Capital L P lifted its position in shares of Accuray by 35.1% during the second quarter. Globeflex Capital L P now owns 248,265 shares of the medical equipment provider's stock worth $340,000 after acquiring an additional 64,494 shares in the last quarter. Armistice Capital LLC lifted its stake in Accuray by 27.6% in the 2nd quarter. Armistice Capital LLC now owns 3,236,000 shares of the medical equipment provider's stock worth $4,433,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Accuray by 83.0% in the second quarter. Sei Investments Co. now owns 93,843 shares of the medical equipment provider's stock worth $129,000 after buying an additional 42,557 shares in the last quarter. 64.08% of the stock is owned by institutional investors.

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.