Short Interest in Accuray Incorporated (NASDAQ:ARAY) Grows By 20.6%

Accuray Incorporated (NASDAQ:ARAY) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 6,598,752 shares, a growth of 20.6% from the February 26th total of 5,471,116 shares. Approximately 5.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,534,107 shares, the short-interest ratio is presently 4.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ARAY. Williams & Novak LLC boosted its position in shares of Accuray by 12.3% during the third quarter. Williams & Novak LLC now owns 77,430 shares of the medical equipment provider’s stock valued at $129,000 after purchasing an additional 8,460 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Accuray by 32.4% during the third quarter. BNP Paribas Financial Markets now owns 39,369 shares of the medical equipment provider’s stock valued at $66,000 after buying an additional 9,633 shares during the period. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of Accuray by 2.4% during the 4th quarter. Silverberg Bernstein Capital Management LLC now owns 648,548 shares of the medical equipment provider’s stock valued at $535,000 after buying an additional 15,300 shares in the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of Accuray by 22.2% during the 4th quarter. Perkins Capital Management Inc. now owns 86,500 shares of the medical equipment provider’s stock valued at $71,000 after buying an additional 15,700 shares in the last quarter. Finally, R Squared Ltd grew its position in shares of Accuray by 94.0% in the 3rd quarter. R Squared Ltd now owns 40,550 shares of the medical equipment provider’s stock worth $68,000 after buying an additional 19,648 shares during the period. Institutional investors own 64.08% of the company’s stock.

Accuray Trading Down 0.3%

NASDAQ ARAY traded down $0.00 during trading on Wednesday, hitting $0.39. The company had a trading volume of 1,234,485 shares, compared to its average volume of 1,138,395. The company’s fifty day moving average is $0.56 and its 200-day moving average is $1.00. Accuray has a one year low of $0.33 and a one year high of $2.10. The company has a current ratio of 1.47, a quick ratio of 0.71 and a debt-to-equity ratio of 2.34. The company has a market cap of $45.97 million, a price-to-earnings ratio of -1.33 and a beta of 1.19.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Accuray had a negative net margin of 8.15% and a negative return on equity of 59.81%. The company had revenue of $102.24 million for the quarter, compared to analysts’ expectations of $100.86 million. On average, sell-side analysts predict that Accuray will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BTIG Research decreased their price objective on shares of Accuray from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Wall Street Zen cut Accuray from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Accuray in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Accuray presently has a consensus rating of “Hold” and a consensus target price of $2.00.

About Accuray

Accuray Incorporated (NASDAQ: ARAY) is a global medical device company that develops, manufactures and markets innovative radiation therapy solutions for the treatment of cancer. The company’s flagship products include the CyberKnife® System, a robotic radiosurgery platform offering sub-millimeter precision, and the TomoTherapy® System, which combines helical computed tomography (CT) imaging with intensity-modulated radiation therapy (IMRT). More recently, Accuray introduced the Radixact® System, an advanced iteration of its TomoTherapy technology designed to enhance treatment speed and clinical workflow.

Accuray’s suite of products enables clinicians to deliver highly targeted radiation doses while minimizing exposure to surrounding healthy tissue.