Short Interest in Accuray Incorporated (NASDAQ:ARAY) Decreases By 8.6%

Accuray Incorporated (NASDAQ:ARAY) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 3,600,000 shares, a decrease of 8.6% from the October 31st total of 3,940,000 shares. Based on an average trading volume of 633,300 shares, the days-to-cover ratio is presently 5.7 days.

Accuray Trading Down 2.9 %

Shares of ARAY stock traded down $0.06 during mid-day trading on Wednesday, reaching $2.04. 250,103 shares of the stock traded hands, compared to its average volume of 662,959. The company has a market cap of $205.16 million, a price-to-earnings ratio of -12.35 and a beta of 1.44. The company has a quick ratio of 0.87, a current ratio of 1.63 and a debt-to-equity ratio of 3.59. The stock’s fifty day simple moving average is $1.87 and its two-hundred day simple moving average is $1.85. Accuray has a 1-year low of $1.40 and a 1-year high of $3.05.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $98.10 million. Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. During the same period in the prior year, the company posted ($0.03) EPS. On average, research analysts anticipate that Accuray will post 0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Accuray from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Institutional Investors Weigh In On Accuray

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Accuray by 9.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock valued at $181,000 after acquiring an additional 6,583 shares during the last quarter. Williams & Novak LLC increased its position in shares of Accuray by 259.2% during the second quarter. Williams & Novak LLC now owns 96,900 shares of the medical equipment provider’s stock worth $176,000 after buying an additional 69,925 shares during the period. Dynamic Advisor Solutions LLC raised its stake in Accuray by 81.6% during the second quarter. Dynamic Advisor Solutions LLC now owns 96,900 shares of the medical equipment provider’s stock worth $176,000 after buying an additional 43,550 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Accuray in the second quarter valued at $132,000. Finally, Nisa Investment Advisors LLC boosted its position in Accuray by 253,483.3% during the second quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 15,209 shares during the last quarter. 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.