Acuitas Investments LLC Increases Stock Holdings in Accuray Incorporated (NASDAQ:ARAY)

Acuitas Investments LLC raised its stake in Accuray Incorporated (NASDAQ:ARAY) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 708,553 shares of the medical equipment provider’s stock after purchasing an additional 91,053 shares during the quarter. Acuitas Investments LLC owned 0.73% of Accuray worth $2,005,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Commonwealth Equity Services LLC purchased a new stake in shares of Accuray in the third quarter valued at approximately $35,000. Kestra Advisory Services LLC purchased a new stake in shares of Accuray in the third quarter valued at approximately $42,000. Mackenzie Financial Corp purchased a new stake in shares of Accuray in the third quarter valued at approximately $58,000. Williams & Novak LLC purchased a new stake in shares of Accuray in the fourth quarter valued at approximately $76,000. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Accuray by 39.8% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 32,155 shares of the medical equipment provider’s stock valued at $89,000 after buying an additional 9,155 shares in the last quarter. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ARAY. TheStreet downgraded Accuray from a “c-” rating to a “d+” rating in a research report on Wednesday, February 14th. Roth Capital reissued a “buy” rating on shares of Accuray in a report on Tuesday, February 13th. Finally, Roth Mkm started coverage on Accuray in a report on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price target for the company. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.25.

Accuray Stock Performance

Accuray stock remained flat at $2.18 during trading on Friday. The company had a trading volume of 67,127 shares, compared to its average volume of 443,638. The stock has a market capitalization of $216.19 million, a PE ratio of -14.53 and a beta of 1.44. The stock has a fifty day moving average price of $2.50 and a two-hundred day moving average price of $2.65. Accuray Incorporated has a 52-week low of $2.10 and a 52-week high of $4.30. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.58 and a quick ratio of 0.84.

Accuray (NASDAQ:ARAY) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $107.24 million during the quarter, compared to analyst estimates of $107.11 million. Accuray had a negative net margin of 3.25% and a negative return on equity of 28.11%. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, research analysts anticipate that Accuray Incorporated will post -0.07 EPS for the current fiscal year.

Accuray 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, 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.