Accuray (NASDAQ:ARAY) Upgraded at StockNews.com

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

Accuray Stock Performance

NASDAQ:ARAY opened at $1.83 on Friday. The firm has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $2.01. 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 firm has a market cap of $188.18 million, a PE ratio of -36.60 and a beta of 1.46. Accuray has a 1-year low of $1.40 and a 1-year high of $2.95.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. On average, equities analysts expect that Accuray will post 0.01 EPS for the current year.

Institutional Investors Weigh In On Accuray

Several institutional investors have recently bought and sold shares of ARAY. US Bancorp DE grew its stake in Accuray by 1,087.7% during the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 16,316 shares during the period. Ameriprise Financial Inc. purchased a new stake in Accuray during the fourth quarter worth approximately $35,000. Caprock Group LLC purchased a new stake in Accuray during the third quarter worth approximately $36,000. Intech Investment Management LLC purchased a new stake in Accuray during the third quarter worth approximately $41,000. Finally, Prudential Financial Inc. purchased a new stake in Accuray during the fourth quarter worth approximately $43,000. 64.08% of the stock is currently owned by hedge funds and other 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.