Accuray (NASDAQ:ARAY) Hits New 1-Year Low – Time to Sell?

Accuray Incorporated (NASDAQ:ARAY)’s stock price hit a new 52-week low during trading on Monday. The stock traded as low as $4.04 and last traded at $3.9950, with a volume of 104 shares traded. The stock had previously closed at $4.40.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Accuray from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce”.

Accuray Trading Down 17.4%

The firm has a market cap of $434.59 million, a PE ratio of -24.19 and a beta of 1.38. The company’s fifty day moving average price is $0.21 and its two-hundred day moving average price is $0.36. The company has a quick ratio of 0.74, a current ratio of 1.50 and a debt-to-equity ratio of 3.51.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Wednesday, August 19th. The medical equipment provider reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.40. The firm had revenue of $100.92 million for the quarter, compared to the consensus estimate of $105.30 million. Accuray had a negative return on equity of 36.82% and a negative net margin of 4.41%.

Institutional Investors Weigh In On Accuray

A number of institutional investors and hedge funds have recently bought and sold shares of ARAY. BlackRock Inc. purchased a new stake in shares of Accuray in the second quarter valued at $842,000. Weber Capital Management LLC ADV purchased a new position in shares of Accuray during the 2nd quarter worth $1,271,652. Williams & Novak Wealth Management LLC lifted its stake in shares of Accuray by 27.3% during the 3rd quarter. Williams & Novak Wealth Management LLC now owns 303,330 shares of the medical equipment provider’s stock worth $82,000 after purchasing an additional 65,100 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Accuray by 164.7% during the second quarter. Squarepoint Ops LLC now owns 1,448,234 shares of the medical equipment provider’s stock worth $373,000 after purchasing an additional 901,158 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in shares of Accuray by 2,344.3% during the second quarter. Susquehanna International Group LLP now owns 825,604 shares of the medical equipment provider’s stock worth $213,000 after purchasing an additional 791,827 shares during the last quarter. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Accuray Company Profile

Accuray Incorporated develops, manufactures and supports radiation oncology systems used to treat cancer. The company focuses on precision radiotherapy technologies designed to deliver targeted radiation while helping clinicians manage treatment complexity and limit exposure to surrounding healthy tissue.

Its principal product platforms include the CyberKnife System, a robotic, image-guided radiation therapy system used for radiosurgery and stereotactic body radiation therapy, and the Radixact System, an image-guided tomotherapy platform designed to deliver highly conformal radiation treatments.