Accuray Incorporated (NASDAQ:ARAY) Sees Large Increase in Short Interest

Accuray Incorporated (NASDAQ:ARAY) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 4,500,000 shares, an increase of 11.7% from the January 15th total of 4,030,000 shares. Based on an average daily trading volume, of 740,500 shares, the short-interest ratio is presently 6.1 days.

Institutional Investors Weigh In On Accuray

Large investors have recently modified their holdings of the business. AQR Capital Management LLC purchased a new stake in shares of Accuray in the second quarter valued at about $30,000. US Bancorp DE boosted its stake in Accuray by 1,087.7% during the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 16,316 shares during the period. Caprock Group LLC purchased a new position in Accuray during the third quarter worth about $36,000. Intech Investment Management LLC acquired a new stake in shares of Accuray during the third quarter worth about $41,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Accuray during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Accuray from a “hold” rating to a “buy” rating in a research report on Monday, February 10th.

Accuray Stock Performance

Shares of ARAY stock traded down $0.05 during trading hours on Friday, hitting $2.23. The company’s stock had a trading volume of 547,852 shares, compared to its average volume of 769,263. The company has a 50 day moving average of $2.14 and a 200 day moving average of $1.99. The company has a quick ratio of 0.87, a current ratio of 1.62 and a debt-to-equity ratio of 3.51. Accuray has a 12-month low of $1.40 and a 12-month high of $2.95.

Accuray (NASDAQ:ARAY) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. Equities analysts expect that Accuray will post 0.01 earnings per share for the current year.

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.