ViewRay, Inc. (NASDAQ:VRAY) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 3,886,151 shares, a growth of 39.1% from the May 15th total of 2,793,370 shares. Approximately 11.8% of the shares of the stock are short sold. Based on an average daily volume of 812,499 shares, the short-interest ratio is currently 4.8 days.
In related news, insider Fmr Llc sold 217,883 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $8.29, for a total value of $1,806,250.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 1,385,274 shares of company stock worth $10,463,829 over the last 90 days. 59.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of VRAY. Highbridge Capital Management LLC purchased a new position in shares of ViewRay during the first quarter worth about $167,000. Boston Financial Mangement LLC purchased a new position in shares of ViewRay during the first quarter worth about $170,000. HighTower Advisors LLC purchased a new position in shares of ViewRay during the first quarter worth about $170,000. Wells Fargo & Company MN purchased a new position in shares of ViewRay during the first quarter worth about $177,000. Finally, UBS Group AG increased its position in shares of ViewRay by 447.7% in the first quarter. UBS Group AG now owns 22,479 shares of the company’s stock worth $192,000 after buying an additional 18,375 shares during the period. Hedge funds and other institutional investors own 49.29% of the company’s stock.
VRAY has been the topic of several analyst reports. Aegis restated a “buy” rating and issued a $11.00 price objective on shares of ViewRay in a report on Monday, February 27th. Northland Securities increased their price objective on shares of ViewRay from $6.00 to $8.00 and gave the company an “outperform” rating in a report on Monday, February 27th. ValuEngine lowered shares of ViewRay from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Finally, BTIG Research restated a “buy” rating and issued a $10.00 price objective on shares of ViewRay in a report on Wednesday, May 17th.
ViewRay (NASDAQ:VRAY) opened at 6.45 on Friday. The company has a 50-day moving average of $6.45 and a 200 day moving average of $5.60. ViewRay has a one year low of $2.64 and a one year high of $10.39. The firm’s market capitalization is $370.12 million.
ViewRay (NASDAQ:VRAY) last posted its earnings results on Monday, May 15th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by $0.02. The company had revenue of $1.23 million for the quarter, compared to analyst estimates of $0.52 million. During the same quarter in the previous year, the company posted ($0.35) EPS. ViewRay’s revenue for the quarter was down 77.5% compared to the same quarter last year. On average, analysts anticipate that ViewRay will post ($0.97) EPS for the current year.
ViewRay Company Profile
ViewRay, Inc designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Company offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered.
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2231169/viewray-inc-vray-short-interest-up-39-1-in-may.html
Receive News & Ratings for ViewRay Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ViewRay Inc. and related companies with MarketBeat.com's FREE daily email newsletter.