Accuray (NASDAQ:ARAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Accuray (NASDAQ:ARAY) from a sell rating to a hold rating in a report released on Saturday morning.

Separately, BTIG Research upped their price target on shares of Accuray from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $5.00.

Accuray Stock Up 2.5%

Shares of NASDAQ:ARAY opened at $1.61 on Friday. The stock has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.52. The stock has a market capitalization of $181.41 million, a P/E ratio of -80.50 and a beta of 1.26. Accuray has a 1 year low of $1.14 and a 1 year high of $2.95. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.92 and a current ratio of 1.65.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, August 13th. The medical equipment provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Accuray had a negative net margin of 0.35% and a negative return on equity of 4.92%. The business had revenue of $127.54 million for the quarter, compared to analyst estimates of $123.78 million. Accuray has set its FY 2026 guidance at EPS. Equities analysts forecast that Accuray will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Accuray

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARAY. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in Accuray in the 2nd quarter valued at about $2,055,000. Armistice Capital LLC lifted its stake in shares of Accuray by 105.2% in the first quarter. Armistice Capital LLC now owns 2,536,000 shares of the medical equipment provider’s stock worth $4,539,000 after acquiring an additional 1,300,000 shares in the last quarter. Silverback Asset Management LLC boosted its holdings in Accuray by 1,588.4% in the second quarter. Silverback Asset Management LLC now owns 1,166,054 shares of the medical equipment provider’s stock valued at $1,597,000 after purchasing an additional 1,096,993 shares during the last quarter. Acuitas Investments LLC grew its stake in Accuray by 100.4% during the 1st quarter. Acuitas Investments LLC now owns 1,420,207 shares of the medical equipment provider’s stock valued at $2,542,000 after purchasing an additional 711,654 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Accuray during the 2nd quarter valued at approximately $820,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

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.