Accuray Incorporated (NASDAQ:ARAY) Short Interest Down 19.6% in August

Accuray Incorporated (NASDAQ:ARAY) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 4,190,000 shares, a decline of 19.6% from the August 15th total of 5,210,000 shares. Based on an average daily volume of 858,300 shares, the days-to-cover ratio is presently 4.9 days.

Institutional Investors Weigh In On Accuray

Several large investors have recently made changes to their positions in ARAY. Nisa Investment Advisors LLC increased its holdings in Accuray by 253,483.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 15,209 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Accuray in the 4th quarter worth approximately $29,000. AQR Capital Management LLC acquired a new stake in Accuray in the second quarter valued at approximately $30,000. Victory Capital Management Inc. acquired a new stake in Accuray in the fourth quarter valued at approximately $35,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Accuray during the first quarter worth $49,000. Institutional investors and hedge funds own 64.08% of the company’s stock.

Accuray Price Performance

NASDAQ:ARAY traded up $0.02 during trading hours on Monday, reaching $2.21. 182,709 shares of the company traded hands, compared to its average volume of 661,121. Accuray has a 1-year low of $1.40 and a 1-year high of $3.10. The stock has a market cap of $219.33 million, a P/E ratio of -9.95 and a beta of 1.40. The firm’s 50-day moving average is $1.94 and its 200-day moving average is $2.01. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.58 and a quick ratio of 0.78.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Wednesday, August 14th. The medical equipment provider reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Accuray had a negative net margin of 3.48% and a negative return on equity of 33.39%. The company had revenue of $134.29 million during the quarter, compared to analysts’ expectations of $122.80 million. During the same period in the previous year, the company earned ($0.03) EPS. Equities research analysts expect that Accuray will post -0.01 earnings per share for the current fiscal 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, 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.