Accuray Incorporated $ARAY Stock Position Raised by Armistice Capital LLC

Key Points

• Armistice Capital LLC increased its stake in Accuray Incorporated by 105.2%, owning approximately 2.46% of the company valued at $4.54 million after purchasing an additional 1.3 million shares.
• Analysts have mixed views on Accuray, with Wall Street Zen downgrading the stock from a "hold" to a "sell" while BTIG Research set a new target price of $5.00 and maintained a "buy" rating.
• Accuray reported revenue of $127.54 million for the quarter, exceeding expectations but missed on EPS estimates, reporting $0.01 compared to the expected $0.03.

Armistice Capital LLC increased its holdings in Accuray Incorporated (NASDAQ:ARAY - Free Report) by 105.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,536,000 shares of the medical equipment provider's stock after buying an additional 1,300,000 shares during the quarter. Armistice Capital LLC owned about 2.46% of Accuray worth $4,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in Accuray by 0.9% in the 4th quarter. Northern Trust Corp now owns 809,665 shares of the medical equipment provider's stock worth $1,603,000 after buying an additional 7,399 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Accuray in the 4th quarter worth approximately $35,000. Two Sigma Advisers LP boosted its stake in 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 in the last quarter. Bank of America Corp DE boosted its stake in Accuray by 102.7% during the 4th quarter. Bank of America Corp DE now owns 146,803 shares of the medical equipment provider's stock valued at $291,000 after purchasing an additional 74,394 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Accuray by 37.7% during the 4th quarter. Wells Fargo & Company MN now owns 260,071 shares of the medical equipment provider's stock valued at $515,000 after purchasing an additional 71,198 shares in the last quarter. 64.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen lowered Accuray from a "hold" rating to a "sell" rating in a research note on Saturday. BTIG Research increased their price target on Accuray from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Accuray has an average rating of "Buy" and an average price target of $5.00.

Accuray Price Performance

Shares of ARAY traded down $0.03 during trading hours on Wednesday, hitting $1.46. 407,693 shares of the company were exchanged, compared to its average volume of 812,081. The company has a market capitalization of $164.51 million, a PE ratio of -73.00 and a beta of 1.26. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.65 and a quick ratio of 0.92. The firm has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $1.56. Accuray Incorporated has a one year low of $1.14 and a one year high of $2.95.

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 the consensus estimate of $0.03 by ($0.02). The company 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 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 predict that Accuray Incorporated will post 0.01 earnings per share for the current year.

Accuray 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.