Accuray (NASDAQ:ARAY) Rating Lowered to "Hold" at Wall Street Zen

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.

Accuray (NASDAQ:ARAY - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Separately, BTIG Research reissued a "buy" rating and issued a $5.00 price target (up from $4.00) on shares of Accuray in a report on Thursday.

Accuray Trading Down 4.1%

Shares of ARAY stock opened at $1.40 on Friday. Accuray has a 12-month low of $1.14 and a 12-month high of $2.95. The firm has a market cap of $157.70 million, a P/E ratio of -70.00 and a beta of 1.24. The company has a quick ratio of 0.92, a current ratio of 1.64 and a debt-to-equity ratio of 3.35. The company has a 50 day moving average of $1.34 and a 200-day moving average of $1.63.

Accuray (NASDAQ:ARAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The medical equipment provider reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). Accuray had a negative net margin of 0.35% and a negative return on equity of 5.79%. The business had revenue of $127.54 million during the quarter, compared to analysts' expectations of $123.78 million. Sell-side analysts anticipate that Accuray will post 0.01 earnings per share for the current year.

Institutional Trading of Accuray

A number of hedge funds have recently made changes to their positions in ARAY. Ameriprise Financial Inc. bought a new stake in Accuray in the fourth quarter worth $35,000. Tower Research Capital LLC TRC lifted its stake in 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 worth $48,000 after purchasing an additional 30,182 shares during the last quarter. ProShare Advisors LLC lifted its stake in Accuray by 50.7% in the fourth quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider's stock worth $54,000 after purchasing an additional 9,187 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Accuray in the fourth quarter worth $66,000. Finally, Gabelli Funds LLC lifted its stake in Accuray by 12.5% in the fourth quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider's stock worth $89,000 after purchasing an additional 5,000 shares during the last quarter. 64.08% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.