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

Accuray (NASDAQ:ARAY) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Accuray Stock Down 3.6 %

Shares of ARAY traded down $0.07 during mid-day trading on Tuesday, hitting $1.85. 827,886 shares of the company’s stock were exchanged, compared to its average volume of 780,936. Accuray has a 52 week low of $1.40 and a 52 week high of $2.95. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.62 and a quick ratio of 0.88. The company has a 50-day simple moving average of $2.17 and a 200 day simple moving average of $2.03. The company has a market cap of $190.24 million, a PE ratio of -37.00 and a beta of 1.51.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share (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%. On average, research analysts forecast that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARAY. US Bancorp DE grew its position in Accuray by 1,087.7% in the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 16,316 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Accuray in the fourth quarter valued at about $35,000. Caprock Group LLC bought a new stake in shares of Accuray during the third quarter worth about $36,000. Intech Investment Management LLC bought a new stake in shares of Accuray during the third quarter worth about $41,000. Finally, Prudential Financial Inc. bought a new stake in shares of Accuray during the fourth quarter worth about $43,000. 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.