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

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

Accuray Trading Down 3.6 %

Shares of NASDAQ:ARAY traded down $0.07 during midday trading on Tuesday, hitting $1.85. 827,886 shares of the stock were exchanged, compared to its average volume of 780,936. The business’s 50-day moving average price is $2.17 and its 200 day moving average price is $2.03. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. The stock has a market capitalization of $190.24 million, a price-to-earnings ratio of -37.00 and a beta of 1.51. Accuray has a 12 month low of $1.40 and a 12 month high of $2.95.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. Analysts predict that Accuray will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On Accuray

A number of hedge funds and other institutional investors have recently made changes to their positions in ARAY. Foundry Partners LLC lifted its stake in Accuray by 51.3% in the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock valued at $3,937,000 after buying an additional 741,900 shares during the period. State Street Corp lifted its stake in Accuray by 3.8% in the third quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider’s stock valued at $3,410,000 after buying an additional 70,008 shares during the period. Barclays PLC lifted its stake in Accuray by 97.9% in the third quarter. Barclays PLC now owns 210,819 shares of the medical equipment provider’s stock valued at $380,000 after buying an additional 104,310 shares during the period. BNP Paribas Financial Markets lifted its stake in Accuray by 1,650.6% in the third quarter. BNP Paribas Financial Markets now owns 146,384 shares of the medical equipment provider’s stock valued at $263,000 after buying an additional 138,022 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Accuray by 489.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock valued at $500,000 after buying an additional 230,695 shares during the period. 64.08% of the stock is owned by institutional investors and hedge funds.

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.