Silverback Asset Management LLC Cuts Position in Accuray Incorporated (NASDAQ:ARAY)

Silverback Asset Management LLC lessened its stake in Accuray Incorporated (NASDAQ:ARAY - Free Report) by 99.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,061 shares of the medical equipment provider's stock after selling 15,026,939 shares during the quarter. Silverback Asset Management LLC owned 0.07% of Accuray worth $137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. purchased a new position in Accuray during the fourth quarter worth $35,000. Prudential Financial Inc. purchased a new stake in Accuray during the 4th quarter worth about $43,000. ProShare Advisors LLC lifted its holdings in Accuray by 50.7% in the 4th 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 in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Accuray during the 4th quarter worth about $66,000. Finally, Gabelli Funds LLC raised its position in shares of Accuray by 12.5% in the fourth quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider's stock valued at $89,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 64.08% of the company's stock.

Accuray Trading Down 1.9%

Shares of ARAY stock traded down $0.03 during mid-day trading on Friday, hitting $1.55. 543,436 shares of the company's stock were exchanged, compared to its average volume of 712,467. The stock has a market cap of $159.67 million, a price-to-earnings ratio of -31.00 and a beta of 1.30. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 3.51. Accuray Incorporated has a fifty-two week low of $1.28 and a fifty-two week high of $2.95. The stock has a 50-day simple moving average of $1.57 and a two-hundred day simple moving average of $1.88.

Accuray (NASDAQ:ARAY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. The firm had revenue of $113.24 million for the quarter, compared to analyst estimates of $101.53 million. Equities analysts expect that Accuray Incorporated will post 0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Accuray from a "hold" rating to a "buy" rating in a research report on Friday.

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.