Accuray Incorporated (NASDAQ:ARAY) Sees Significant Decline in Short Interest

Accuray Incorporated (NASDAQ:ARAY) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 5,420,000 shares, a drop of 10.3% from the June 30th total of 6,040,000 shares. Based on an average trading volume of 680,800 shares, the short-interest ratio is currently 8.0 days.

Accuray Stock Performance

Accuray stock traded down $0.06 during mid-day trading on Wednesday, hitting $1.86. 40,198 shares of the company’s stock traded hands, compared to its average volume of 542,077. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.58 and a quick ratio of 0.78. The firm has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $2.19. Accuray has a fifty-two week low of $1.46 and a fifty-two week high of $4.30. The stock has a market cap of $184.09 million, a price-to-earnings ratio of -8.54 and a beta of 1.45.

Accuray (NASDAQ:ARAY) last posted its earnings results on Wednesday, May 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Accuray had a negative return on equity of 44.46% and a negative net margin of 4.99%. The company had revenue of $101.13 million for the quarter, compared to analyst estimates of $114.60 million. During the same quarter in the prior year, the business posted $0.01 EPS. On average, research analysts expect that Accuray will post -0.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Joseph E. Whitters bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $1.54 per share, for a total transaction of $77,000.00. Following the purchase, the director now owns 511,053 shares of the company’s stock, valued at approximately $787,021.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.78% of the company’s stock.

Institutional Investors Weigh In On Accuray

Several hedge funds have recently bought and sold shares of ARAY. Allspring Global Investments Holdings LLC increased its stake in shares of Accuray by 6,480.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 35,007 shares of the medical equipment provider’s stock worth $64,000 after purchasing an additional 34,475 shares during the period. Bank of New York Mellon Corp grew its holdings in Accuray by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,426 shares of the medical equipment provider’s stock valued at $509,000 after buying an additional 8,864 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Accuray by 253,483.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 15,209 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Accuray during the second quarter worth $132,000. Finally, Dynamic Advisor Solutions LLC boosted its position in shares of Accuray by 81.6% in the second quarter. Dynamic Advisor Solutions LLC now owns 96,900 shares of the medical equipment provider’s stock valued at $176,000 after acquiring an additional 43,550 shares during the period. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.