Acuitas Investments LLC Acquires 91,053 Shares of Accuray Incorporated (NASDAQ:ARAY)

Acuitas Investments LLC increased its stake in Accuray Incorporated (NASDAQ:ARAY) by 14.7% during the fourth quarter, Holdings Channel reports. The firm owned 708,553 shares of the medical equipment provider’s stock after acquiring an additional 91,053 shares during the period. Acuitas Investments LLC’s holdings in Accuray were worth $2,005,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARAY. Heartland Advisors Inc. boosted its stake in shares of Accuray by 6.8% during the third quarter. Heartland Advisors Inc. now owns 2,847,800 shares of the medical equipment provider’s stock valued at $7,746,000 after purchasing an additional 181,050 shares in the last quarter. North Star Investment Management Corp. lifted its stake in Accuray by 16.8% in the fourth quarter. North Star Investment Management Corp. now owns 1,095,920 shares of the medical equipment provider’s stock valued at $3,101,000 after buying an additional 157,975 shares during the period. Kennedy Capital Management LLC lifted its stake in Accuray by 8.8% in the third quarter. Kennedy Capital Management LLC now owns 995,536 shares of the medical equipment provider’s stock valued at $2,708,000 after buying an additional 80,455 shares during the period. First Eagle Investment Management LLC lifted its stake in Accuray by 44.3% in the third quarter. First Eagle Investment Management LLC now owns 910,925 shares of the medical equipment provider’s stock valued at $2,478,000 after buying an additional 279,478 shares during the period. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in Accuray in the fourth quarter valued at approximately $1,194,000. Institutional investors own 64.08% of the company’s stock.

Accuray Price Performance

Shares of NASDAQ ARAY remained flat at $2.18 during trading on Friday. The stock had a trading volume of 67,127 shares, compared to its average volume of 443,638. Accuray Incorporated has a 1 year low of $2.10 and a 1 year high of $4.30. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.58 and a quick ratio of 0.84. The firm has a 50-day moving average of $2.50 and a 200-day moving average of $2.65. The stock has a market cap of $216.19 million, a PE ratio of -14.53 and a beta of 1.44.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). Accuray had a negative return on equity of 28.11% and a negative net margin of 3.25%. The company had revenue of $107.24 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same period last year, the company posted ($0.02) EPS. Analysts expect that Accuray Incorporated will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ARAY. Roth Capital restated a “buy” rating on shares of Accuray in a report on Tuesday, February 13th. TheStreet downgraded Accuray from a “c-” rating to a “d+” rating in a report on Wednesday, February 14th. Finally, Roth Mkm began coverage on Accuray in a report on Tuesday, February 13th. They set a “buy” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accuray has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

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, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, 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.