Accuray (NASDAQ:ARAY) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Accuray's stock rating was upgraded from "sell" to "hold" by Wall Street Zen, while BTIG Research has set a new price target of $5.00 with a "buy" rating.
• The company reported quarterly earnings of $0.01 EPS, missing estimates, but achieved revenue of $127.54 million, surpassing expectations.
• Institutional investors have been actively acquiring shares of Accuray, with significant increases in holdings from firms such as Armistice Capital and Silverback Asset Management.

Accuray (NASDAQ:ARAY - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

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

Accuray Stock Up 9.4%

Shares of ARAY stock traded up $0.15 on Friday, reaching $1.74. 881,323 shares of the stock were exchanged, compared to its average volume of 633,820. The company has a current ratio of 1.65, a quick ratio of 0.92 and a debt-to-equity ratio of 1.53. The business's 50 day moving average price is $1.46 and its 200 day moving average price is $1.52. The company has a market capitalization of $196.06 million, a price-to-earnings ratio of -87.00 and a beta of 1.26. Accuray has a twelve month low of $1.14 and a twelve month high of $2.95.

Accuray (NASDAQ:ARAY - Get Free Report) last issued its earnings results on Wednesday, August 13th. The medical equipment provider reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). The firm had revenue of $127.54 million for the quarter, compared to analyst estimates 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. As a group, sell-side analysts expect that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARAY. Ameriprise Financial Inc. purchased a new position in Accuray in the fourth quarter valued at about $35,000. Tower Research Capital LLC TRC grew its position 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 purchasing an additional 30,182 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Accuray by 50.7% in the fourth quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider's stock valued at $54,000 after purchasing an additional 9,187 shares during the last quarter. Williams & Novak LLC grew its position in shares of Accuray by 25.5% in the second quarter. Williams & Novak LLC now owns 68,970 shares of the medical equipment provider's stock valued at $94,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Accuray by 44.0% in the first quarter. Deutsche Bank AG now owns 60,606 shares of the medical equipment provider's stock valued at $108,000 after purchasing an additional 18,526 shares during the last quarter. 64.08% of the stock is owned by hedge funds and other 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.