Company shares last traded at $4.70 which is marginally higher than the 50 day moving average of $4.25 and marginally under the 200 day moving average of $4.80. The 50 day moving average was up $0.45 or +10.60% and the 200 day average moved down $-0.10. Trading volume for Accuray Incorporated was 439K by the end of trading on Thursday. Shares saw a steep decrease in trading volume of 38.70% under the normal average daily volume.
Investors are feeling more bullish on shares of Accuray Incorporated lately at least if you consider the decrease in short interest. The firm realized a fall in short interest of -21.05% as of May 31, 2017 from the last reporting period. Short shares decreased from 7,340,172 to 5,794,756 over that timeframe. With short interest at 5,794,756 and short average daily volume at 532,241, days to cover is 10.9 and the short interest percentage is 0.07% as of May 31.
Here are a few additional firms who have increased or decreased their stake in (ARAY). As of the end of the quarter Tower Research Capital LLC (trc) had disposed of 700 shares trimming its position 87.5%. The value of the total investment in Accuray Incorporated went from $4,000 to $0 decreasing 100.0% since the last quarter. Lapides Asset Management, LLC bolstered its investment by buying 18,900 shares an increase of 0.9% in the quarter. Lapides Asset Management, LLC now holds 2,213,800 shares valued at $10,516,000. The value of the position overall is up by 4.1%.
Goldman Sachs Group Inc grew its holdings by buying 16,223 shares an increase of 116.3% as of 03/31/2017. Goldman Sachs Group Inc currently owns 30,173 shares worth $143,000. The total value of its holdings increased 123.4%. Sectoral Asset Management Inc downsized its ownership by selling 589,915 shares a decrease of 19.2%. Sectoral Asset Management Inc owns 2,482,621 shares with a value of $11,792,000. The value of the position overall is down by 16.6%.
Equity analyst JP Morgan lowered the price target and downgraded the stock on December 14 changing the price target from $12.00 to $6.00 and setting the rating at “Neutral” which had previously been “Overweight”. On December 14 the stock rating was downgraded from “Overweight” to “Neutral” and a price target of $6.00 was set in a report issued by JP Morgan.
On September 13, 2016 Cowen & Co. starting coverage on ARAY giving it an initial rating of “Outperform”. On December 22 analysts at RBC Capital initiated coverage by announcing an initial rating of “Sector Perform” and price target of $8.00.
Equity analyst Citigroup added the stock to its research portfolio setting a rating of “Sell” and setting a price target of $6.00. Northland Securities began coverage with a rating of “Outperform” and establishing a price target of $11.00.
The company is trading up from yesterday’s close of $4.55. As of the last earnings report the EPS was $-0.39 and is projected to be $-0.30 for the current year with 83,000,000 shares currently outstanding. Next quarter’s EPS is forecasted at $-0.09 and the next full year EPS is anticipated to be $-0.14.
Accuray Incorporated, launched on February 22, 2001, is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. It develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its suite of products includes the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. The Business’s technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver a range of treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy..