Accuray (NASDAQ:ARAY) Downgraded by Wall Street Zen to "Hold"

Key Points

• Accuray's rating has been downgraded from a "buy" to a "hold" by Wall Street Zen following a recent research report.
• Despite the downgrade, BTIG Research has maintained a "buy" rating while increasing the price target from $4.00 to $5.00.
• Accuray reported earnings of $0.01 per share for the last quarter, missing expectations, and recorded a revenue of $127.54 million, which was above analysts' expectations.

Wall Street Zen cut shares of Accuray (NASDAQ:ARAY - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

Separately, BTIG Research raised their price target on shares of Accuray from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $5.00.

Accuray Price Performance

Shares of ARAY remained flat at $1.51 during mid-day trading on Friday. 1,095,587 shares of the stock traded hands, compared to its average volume of 853,086. The firm has a market capitalization of $170.09 million, a P/E ratio of -75.50 and a beta of 1.24. Accuray has a one year low of $1.1401 and a one year high of $2.95. The stock has a 50 day moving average of $1.36 and a 200-day moving average of $1.61. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.92 and a current ratio of 1.64.

Accuray (NASDAQ:ARAY - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $127.54 million for the quarter, compared to the consensus estimate of $123.78 million. Accuray had a negative return on equity of 5.79% and a negative net margin of 0.35%. Accuray has set its FY 2026 guidance at EPS. On average, analysts anticipate that Accuray will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Accuray

Several large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Accuray by 604.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 35,177 shares of the medical equipment provider's stock valued at $48,000 after buying an additional 30,182 shares during the last quarter. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in Accuray during the 2nd quarter valued at $2,055,000. Globeflex Capital L P lifted its holdings in Accuray by 35.1% during the 2nd quarter. Globeflex Capital L P now owns 248,265 shares of the medical equipment provider's stock valued at $340,000 after purchasing an additional 64,494 shares during the last quarter. Armistice Capital LLC lifted its holdings in Accuray by 27.6% during the 2nd quarter. Armistice Capital LLC now owns 3,236,000 shares of the medical equipment provider's stock valued at $4,433,000 after purchasing an additional 700,000 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Accuray by 83.0% during the 2nd quarter. Sei Investments Co. now owns 93,843 shares of the medical equipment provider's stock valued at $129,000 after purchasing an additional 42,557 shares during the last quarter. Institutional investors and hedge funds own 64.08% of the company's stock.

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.