Accuray (NASDAQ:ARAY) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

Accuray Price Performance

Shares of NASDAQ:ARAY opened at $1.83 on Tuesday. The company has a market capitalization of $188.18 million, a PE ratio of -36.60 and a beta of 1.51. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. The stock has a fifty day moving average of $2.17 and a 200-day moving average of $2.03. Accuray has a one year low of $1.40 and a one year high of $2.95.

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

Institutional Investors Weigh In On Accuray

A number of large investors have recently made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in Accuray by 1,123.1% in the 4th quarter. Mackenzie Financial Corp now owns 272,846 shares of the medical equipment provider’s stock worth $540,000 after purchasing an additional 250,539 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Accuray by 36.0% in the fourth quarter. Squarepoint Ops LLC now owns 61,804 shares of the medical equipment provider’s stock valued at $122,000 after purchasing an additional 16,368 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Accuray in the fourth quarter worth $144,000. Two Sigma Advisers LP grew its holdings in shares of Accuray by 41.9% during the fourth quarter. Two Sigma Advisers LP now owns 70,513 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 20,813 shares in the last quarter. Finally, State of Wyoming raised its position in Accuray by 102.6% during the fourth quarter. State of Wyoming now owns 99,679 shares of the medical equipment provider’s stock valued at $197,000 after buying an additional 50,485 shares during the period. Institutional investors and hedge funds own 64.08% of the company’s stock.

About Accuray

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.