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

Accuray Incorporated (NASDAQ:ARAY) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 4,190,000 shares, a decrease of 19.6% from the August 15th total of 5,210,000 shares. Based on an average daily volume of 858,300 shares, the short-interest ratio is presently 4.9 days.

Accuray Stock Performance

ARAY stock opened at $2.18 on Tuesday. The firm has a market cap of $216.35 million, a price-to-earnings ratio of -9.91 and a beta of 1.40. Accuray has a twelve month low of $1.40 and a twelve month high of $3.10. The company has a quick ratio of 0.78, a current ratio of 1.58 and a debt-to-equity ratio of 4.05. The business’s fifty day simple moving average is $1.94 and its two-hundred day simple moving average is $2.01.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Wednesday, August 14th. The medical equipment provider reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $134.29 million for the quarter, compared to the consensus estimate of $122.80 million. Accuray had a negative net margin of 3.48% and a negative return on equity of 33.39%. During the same quarter last year, the firm posted ($0.03) EPS. Analysts predict that Accuray will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARAY. North Star Investment Management Corp. raised its position in shares of Accuray by 0.5% in the 1st quarter. North Star Investment Management Corp. now owns 1,100,920 shares of the medical equipment provider’s stock worth $2,719,000 after acquiring an additional 5,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Accuray by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 44,936 shares of the medical equipment provider’s stock valued at $82,000 after buying an additional 5,273 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Accuray by 9.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock valued at $181,000 after buying an additional 6,583 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Accuray by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,812,184 shares of the medical equipment provider’s stock valued at $5,118,000 after buying an additional 7,500 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of 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 worth $509,000 after buying an additional 8,864 shares during the last quarter. Institutional investors own 64.08% of the company’s stock.

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.