Short Interest in Accuray Incorporated (NASDAQ:ARAY) Grows By 12.3%

Accuray Incorporated (NASDAQ:ARAY) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 4,030,000 shares, an increase of 12.3% from the December 31st total of 3,590,000 shares. Based on an average daily trading volume, of 624,600 shares, the days-to-cover ratio is presently 6.5 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Accuray

Several institutional investors have recently modified their holdings of ARAY. The Manufacturers Life Insurance Company boosted its stake in shares of Accuray by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,936 shares of the medical equipment provider’s stock valued at $82,000 after purchasing an additional 5,273 shares during the last quarter. SG Americas Securities LLC boosted its position in Accuray by 37.4% during the fourth quarter. SG Americas Securities LLC now owns 45,079 shares of the medical equipment provider’s stock valued at $89,000 after acquiring an additional 12,259 shares during the last quarter. US Bancorp DE grew its holdings in Accuray by 1,087.7% during the 3rd quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 16,316 shares during the period. AQR Capital Management LLC acquired a new position in shares of Accuray in the 2nd quarter valued at about $30,000. Finally, Caprock Group LLC bought a new stake in shares of Accuray during the 3rd quarter valued at about $36,000. Institutional investors own 64.08% of the company’s stock.

Accuray Price Performance

Shares of ARAY stock traded down $0.02 on Monday, hitting $2.22. 286,951 shares of the company’s stock were exchanged, compared to its average volume of 613,349. The company has a 50 day moving average of $2.08 and a 200 day moving average of $1.96. The stock has a market cap of $222.76 million, a P/E ratio of -13.03 and a beta of 1.51. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.63 and a quick ratio of 0.87. Accuray has a 12 month low of $1.40 and a 12 month high of $2.95.

Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $101.55 million for the quarter, compared to analyst estimates 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 quarter last year, the business posted ($0.03) earnings per share. On average, equities research analysts predict that Accuray will post 0.01 EPS for the current year.

About Accuray

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.