Accuray Shares Scheduled to Reverse Split on Monday, November 9th (NASDAQ:ARAY)

Accuray Incorporated (NASDAQ:ARAY) shares are scheduled to reverse split on Monday, November 9th. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 8th.

Accuray Stock Performance

NASDAQ:ARAY opened at $0.15 on Thursday. Accuray has a 52-week low of $0.12 and a 52-week high of $1.46. The company has a quick ratio of 0.74, a current ratio of 1.50 and a debt-to-equity ratio of 3.51. The stock has a fifty day simple moving average of $0.22 and a 200-day simple moving average of $0.36.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, August 19th. The medical equipment provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Accuray had a negative net margin of 12.24% and a negative return on equity of 97.85%. The business had revenue of $100.92 million for the quarter, compared to analyst estimates of $105.30 million.

Analyst Upgrades and Downgrades

ARAY has been the subject of a number of analyst reports. Weiss Ratings cut Accuray from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. BTIG Research dropped coverage on Accuray in a research note on Wednesday, July 8th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Accuray

A number of hedge funds have recently made changes to their positions in the stock. Weber Capital Management LLC ADV purchased a new position in shares of Accuray in the 2nd quarter worth $1,271,652. BlackRock Inc. purchased a new stake in Accuray during the second quarter valued at about $842,000. Silverback Asset Management LLC grew its position in Accuray by 7.7% during the first quarter. Silverback Asset Management LLC now owns 1,650,000 shares of the medical equipment provider’s stock valued at $640,000 after acquiring an additional 117,481 shares during the period. Squarepoint Ops LLC increased its stake in Accuray by 164.7% during the second quarter. Squarepoint Ops LLC now owns 1,448,234 shares of the medical equipment provider’s stock worth $373,000 after acquiring an additional 901,158 shares during the last quarter. Finally, Susquehanna International Group LLP increased its stake in Accuray by 2,344.3% during the second quarter. Susquehanna International Group LLP now owns 825,604 shares of the medical equipment provider’s stock worth $213,000 after acquiring an additional 791,827 shares during the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.

About Accuray

Accuray Incorporated develops, manufactures and supports radiation oncology systems used to treat cancer. The company focuses on precision radiotherapy technologies designed to deliver targeted radiation while helping clinicians manage treatment complexity and limit exposure to surrounding healthy tissue.

Its principal product platforms include the CyberKnife System, a robotic, image-guided radiation therapy system used for radiosurgery and stereotactic body radiation therapy, and the Radixact System, an image-guided tomotherapy platform designed to deliver highly conformal radiation treatments.