Accuray (NASDAQ:ARAY) Stock Crosses Above 200 Day Moving Average – What’s Next?

Accuray Incorporated (NASDAQ:ARAY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.89 and traded as high as $1.99. Accuray shares last traded at $1.98, with a volume of 239,077 shares traded.

Analyst Upgrades and Downgrades

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

Accuray Stock Down 7.6 %

The stock has a 50-day moving average of $1.92 and a 200-day moving average of $1.89. 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 company has a market cap of $184.03 million, a PE ratio of -10.76 and a beta of 1.44.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Accuray had a negative return on equity of 36.93% and a negative net margin of 3.72%. The company had revenue of $101.55 million during the quarter, compared to analyst estimates of $98.10 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Sell-side analysts predict that Accuray Incorporated will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Accuray

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new stake in Accuray during the second quarter valued at about $30,000. US Bancorp DE boosted its holdings in shares of Accuray by 1,087.7% in the 3rd quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 16,316 shares in the last quarter. Caprock Group LLC bought a new position in shares of Accuray during the 3rd quarter valued at about $36,000. Intech Investment Management LLC purchased a new position in shares of Accuray during the 3rd quarter valued at about $41,000. Finally, Thrivent Financial for Lutherans bought a new stake in Accuray in the 3rd quarter worth approximately $57,000. 64.08% of the stock is owned by institutional investors.

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.