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

Accuray Incorporated (NASDAQ:ARAY) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 3,600,000 shares, a decrease of 8.6% from the October 31st total of 3,940,000 shares. Based on an average daily trading volume, of 633,300 shares, the short-interest ratio is presently 5.7 days.

Institutional Trading of Accuray

Several institutional investors have recently made changes to their positions in ARAY. Foundry Partners LLC raised its position in Accuray by 51.3% in the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock valued at $3,937,000 after purchasing an additional 741,900 shares during the period. Armistice Capital LLC acquired a new stake in shares of Accuray in the second quarter valued at $910,000. Los Angeles Capital Management LLC purchased a new stake in shares of Accuray in the 3rd quarter valued at $418,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Accuray by 489.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock valued at $500,000 after acquiring an additional 230,695 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Accuray by 143.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 384,944 shares of the medical equipment provider’s stock worth $693,000 after acquiring an additional 226,602 shares during the period. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Accuray Trading Down 2.2 %

NASDAQ:ARAY traded down $0.05 during trading hours on Monday, hitting $2.18. The company had a trading volume of 331,972 shares, compared to its average volume of 662,467. Accuray has a 1 year low of $1.40 and a 1 year high of $3.05. The company has a current ratio of 1.63, a quick ratio of 0.87 and a debt-to-equity ratio of 3.59. The company has a 50-day moving average of $1.86 and a 200 day moving average of $1.85. The company has a market cap of $219.24 million, a P/E ratio of -13.00 and a beta of 1.40.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $101.55 million during the quarter, compared to analyst estimates of $98.10 million. Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Sell-side analysts expect that Accuray will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

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

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.