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

Shares of Accuray Incorporated (NASDAQ:ARAY) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

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

Accuray Trading Down 7.6 %

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 firm has a market cap of $184.03 million, a P/E ratio of -10.76 and a beta of 1.44. The firm’s 50-day simple moving average is $1.92 and its 200 day simple moving average is $1.89.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $101.55 million for the quarter, compared to the consensus estimate of $98.10 million. Accuray had a negative return on equity of 36.93% and a negative net margin of 3.72%. During the same quarter in the prior year, the business earned ($0.03) earnings per share. As a group, analysts expect that Accuray Incorporated will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Accuray

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in shares of Accuray in the second quarter valued at approximately $30,000. US Bancorp DE raised 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 valued at $32,000 after acquiring an additional 16,316 shares during the period. Caprock Group LLC purchased a new stake in shares of Accuray during the third quarter worth $36,000. Intech Investment Management LLC bought a new position in shares of Accuray in the third quarter worth $41,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Accuray in the third quarter valued at $57,000. 64.08% of the stock is owned by hedge funds and other institutional investors.

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.