Accuray (NASDAQ:ARAY) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Accuray's stock (NASDAQ:ARAY) received a reaffirmed "sell (E+)" rating from Weiss Ratings, indicating ongoing concerns about the company's performance.
• Despite the sell rating, BTIG Research recently raised their target price for Accuray from $4.00 to $5.00 with a "buy" rating, while the consensus remains a "hold" with an average target price of $5.00.
• Accuray reported a quarterly earnings miss, with earnings of $0.01 per share against analyst expectations of $0.03, while revenues slightly exceeded estimates at $127.54 million.

Accuray (NASDAQ:ARAY - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other equities analysts have also weighed in on the stock. BTIG Research lifted their target price on shares of Accuray from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Accuray from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.00.

Accuray Stock Performance

ARAY traded up $0.02 during trading on Friday, reaching $1.61. The company's stock had a trading volume of 261,199 shares, compared to its average volume of 788,093. The company's fifty day moving average price is $1.62 and its 200-day moving average price is $1.50. Accuray has a 52-week low of $1.14 and a 52-week high of $2.95. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.92 and a current ratio of 1.65. The company has a market capitalization of $180.92 million, a price-to-earnings ratio of -80.25 and a beta of 1.31.

Accuray (NASDAQ:ARAY - Get Free Report) last issued 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). The business had revenue of $127.54 million for the quarter, compared to analysts' expectations of $123.78 million. Accuray had a negative return on equity of 4.92% and a negative net margin of 0.35%. Accuray has set its FY 2026 guidance at EPS. On average, equities analysts forecast that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARAY. Heartland Advisors Inc. increased its stake in Accuray by 11.8% in the first quarter. Heartland Advisors Inc. now owns 4,274,750 shares of the medical equipment provider's stock valued at $7,652,000 after acquiring an additional 450,000 shares during the period. Armistice Capital LLC grew its position in shares of Accuray by 27.6% during the 2nd quarter. Armistice Capital LLC now owns 3,236,000 shares of the medical equipment provider's stock worth $4,433,000 after buying an additional 700,000 shares during the period. Geode Capital Management LLC grew its position in shares of Accuray by 7.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,421,724 shares of the medical equipment provider's stock worth $3,318,000 after buying an additional 174,703 shares during the period. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in shares of Accuray during the 2nd quarter worth approximately $2,055,000. Finally, Acuitas Investments LLC grew its holdings in Accuray by 100.4% during the first quarter. Acuitas Investments LLC now owns 1,420,207 shares of the medical equipment provider's stock valued at $2,542,000 after purchasing an additional 711,654 shares during the period. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.

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