Accuray Incorporated (NASDAQ:ARAY) Sees Large Growth in Short Interest

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

Accuray Stock Down 2.6 %

Shares of NASDAQ:ARAY opened at $2.24 on Monday. Accuray has a 52 week low of $1.40 and a 52 week high of $2.99. The company has a debt-to-equity ratio of 3.59, a quick ratio of 0.87 and a current ratio of 1.63. The company has a market cap of $225.27 million, a PE ratio of -13.18 and a beta of 1.47. The firm has a 50 day simple moving average of $1.99 and a 200 day simple moving average of $1.93.

Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $101.55 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted ($0.03) earnings per share. As a group, research analysts expect that Accuray will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Accuray

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in Accuray in the 2nd quarter valued at approximately $30,000. US Bancorp DE increased its stake in shares of Accuray by 1,087.7% in the third 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 last quarter. Caprock Group LLC purchased a new stake in shares of Accuray during the third quarter worth $36,000. Intech Investment Management LLC acquired a new stake in Accuray during the third quarter valued at $41,000. Finally, Thrivent Financial for Lutherans purchased a new position in Accuray in the third quarter valued at about $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.