Short Interest in Accuray Incorporated (NASDAQ:ARAY) Decreases By 19.6%

Accuray Incorporated (NASDAQ:ARAY) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 4,190,000 shares, a decrease of 19.6% from the August 15th total of 5,210,000 shares. Based on an average daily volume of 858,300 shares, the days-to-cover ratio is currently 4.9 days.

Hedge Funds Weigh In On Accuray

Several institutional investors have recently bought and sold shares of ARAY. North Star Investment Management Corp. increased its stake in Accuray by 0.5% during the 1st quarter. North Star Investment Management Corp. now owns 1,100,920 shares of the medical equipment provider’s stock worth $2,719,000 after buying an additional 5,000 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Accuray by 13.3% in the second quarter. The Manufacturers Life Insurance Company now owns 44,936 shares of the medical equipment provider’s stock valued at $82,000 after buying an additional 5,273 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Accuray by 9.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock valued at $181,000 after buying an additional 6,583 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Accuray by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,812,184 shares of the medical equipment provider’s stock worth $5,118,000 after buying an additional 7,500 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Accuray by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 279,426 shares of the medical equipment provider’s stock worth $509,000 after acquiring an additional 8,864 shares in the last quarter. 64.08% of the stock is owned by institutional investors and hedge funds.

Accuray Price Performance

NASDAQ:ARAY traded up $0.02 during trading hours on Monday, hitting $2.21. 182,709 shares of the stock were exchanged, compared to its average volume of 661,121. Accuray has a 52-week low of $1.40 and a 52-week high of $3.10. The company has a current ratio of 1.58, a quick ratio of 0.78 and a debt-to-equity ratio of 4.05. The firm’s fifty day moving average price is $1.94 and its 200 day moving average price is $2.01. The company has a market cap of $219.33 million, a P/E ratio of -9.95 and a beta of 1.40.

Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, August 14th. The medical equipment provider reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Accuray had a negative return on equity of 33.39% and a negative net margin of 3.48%. The business had revenue of $134.29 million for the quarter, compared to analysts’ expectations of $122.80 million. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, equities research analysts anticipate that Accuray will post -0.01 EPS for the current fiscal 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, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, 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.