Accuray Incorporated (NASDAQ:ARAY) Short Interest Up 12.3% in January

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Accuray

Several institutional investors and hedge funds have recently bought and sold shares of the company. Foundry Partners LLC lifted its position in shares of Accuray by 51.3% during the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock worth $3,937,000 after acquiring an additional 741,900 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Accuray by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,179,396 shares of the medical equipment provider’s stock valued at $3,924,000 after purchasing an additional 45,548 shares during the period. State Street Corp lifted its holdings in Accuray by 3.8% during the 3rd quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider’s stock worth $3,410,000 after purchasing an additional 70,008 shares in the last quarter. FMR LLC boosted its stake in Accuray by 27.2% in the 3rd quarter. FMR LLC now owns 582,591 shares of the medical equipment provider’s stock worth $1,049,000 after purchasing an additional 124,459 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Accuray by 143.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 384,944 shares of the medical equipment provider’s stock valued at $693,000 after buying an additional 226,602 shares in the last quarter. 64.08% of the stock is owned by institutional investors.

Accuray Stock Performance

Shares of NASDAQ:ARAY traded down $0.02 during midday trading on Monday, reaching $2.22. The company had a trading volume of 286,951 shares, compared to its average volume of 613,349. The stock has a market cap of $222.76 million, a P/E ratio of -13.03 and a beta of 1.51. The company’s 50 day moving average price is $2.08 and its 200 day moving average price is $1.96. The company has a current ratio of 1.63, a quick ratio of 0.87 and a debt-to-equity ratio of 3.59. Accuray has a 52-week low of $1.40 and a 52-week high of $2.95.

Accuray (NASDAQ:ARAY) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. The firm had revenue of $101.55 million for the quarter, compared to analysts’ expectations of $98.10 million. During the same period in the previous year, the company earned ($0.03) earnings per share. As a group, sell-side analysts anticipate that Accuray will post 0.01 EPS for the current fiscal year.

Accuray Company 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, 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.