Accuray (NASDAQ:ARAY) Raised to Hold at Wall Street Zen

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 stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

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

Accuray Stock Up 2.5%

NASDAQ ARAY traded up $0.04 during trading hours on Friday, hitting $1.61. The company's stock had a trading volume of 909,878 shares, compared to its average volume of 726,534. Accuray has a 52 week low of $1.14 and a 52 week high of $2.95. The company has a market capitalization of $181.41 million, a PE ratio of -80.50 and a beta of 1.26. 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 company's 50-day simple moving average is $1.44 and its two-hundred day simple moving average is $1.52.

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 the consensus estimate of $0.03 by ($0.02). Accuray had a negative net margin of 0.35% and a negative return on equity of 4.92%. The company had revenue of $127.54 million for the quarter, compared to the consensus estimate of $123.78 million. Accuray has set its FY 2026 guidance at EPS. Research analysts anticipate that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Trading of Accuray

Hedge funds have recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of Accuray in the first quarter valued at $609,000. Hsbc Holdings PLC raised its stake in shares of Accuray by 15.4% in the first quarter. Hsbc Holdings PLC now owns 122,654 shares of the medical equipment provider's stock valued at $221,000 after buying an additional 16,389 shares during the period. Northern Trust Corp boosted its holdings in shares of Accuray by 0.9% in the fourth quarter. Northern Trust Corp now owns 809,665 shares of the medical equipment provider's stock worth $1,603,000 after acquiring an additional 7,399 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Accuray in the fourth quarter valued at $35,000. Finally, Two Sigma Advisers LP raised its stake in shares of Accuray by 41.9% during the 4th quarter. Two Sigma Advisers LP now owns 70,513 shares of the medical equipment provider's stock valued at $140,000 after purchasing an additional 20,813 shares during the period. 64.08% of the stock is currently 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.