Kovack Advisors Inc. Sells 41,000 Shares of Accuray Incorporated (NASDAQ:ARAY)

Kovack Advisors Inc. lessened its stake in shares of Accuray Incorporated (NASDAQ:ARAY) by 3.9% in the third quarter, Holdings Channel reports. The institutional investor owned 1,003,050 shares of the medical equipment provider’s stock after selling 41,000 shares during the quarter. Kovack Advisors Inc.’s holdings in Accuray were worth $1,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Armistice Capital LLC bought a new stake in Accuray during the 2nd quarter worth approximately $910,000. Price T Rowe Associates Inc. MD increased its stake in Accuray by 9.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock worth $181,000 after acquiring an additional 6,583 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Accuray in the 2nd quarter valued at about $132,000. Allspring Global Investments Holdings LLC increased its position in shares of Accuray by 6,480.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 35,007 shares of the medical equipment provider’s stock worth $64,000 after purchasing an additional 34,475 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Accuray by 253,483.3% in the second quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 15,209 shares in the last quarter. 64.08% of the stock is currently owned by institutional investors.

Accuray Price Performance

ARAY traded up $0.01 during midday trading on Wednesday, hitting $1.92. The stock had a trading volume of 76,349 shares, compared to its average volume of 660,006. Accuray Incorporated has a 1 year low of $1.40 and a 1 year high of $3.05. The business has a fifty day moving average of $1.88 and a 200 day moving average of $1.84. The company has a quick ratio of 0.87, a current ratio of 1.63 and a debt-to-equity ratio of 3.59.

Accuray (NASDAQ:ARAY) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $101.55 million for the quarter, compared to analyst estimates of $98.10 million. Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. During the same quarter last year, the firm earned ($0.03) EPS. Equities research analysts forecast that Accuray Incorporated will post 0.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Accuray from a “hold” rating to a “buy” rating in a report on Thursday, November 7th.

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.