Accuray Incorporated (NASDAQ:ARAY) Sees Significant Growth in Short Interest

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

Accuray Trading Down 3.9 %

NASDAQ:ARAY traded down $0.09 during mid-day trading on Friday, hitting $2.23. 509,052 shares of the stock traded hands, compared to its average volume of 576,726. The company has a quick ratio of 0.87, a current ratio of 1.63 and a debt-to-equity ratio of 3.59. The stock has a market capitalization of $224.26 million, a price-to-earnings ratio of -13.12 and a beta of 1.47. Accuray has a 52 week low of $1.40 and a 52 week high of $2.95. The firm’s 50 day moving average is $2.08 and its two-hundred day moving average is $1.96.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Accuray had a negative return on equity of 36.93% and a negative net margin of 3.72%. The firm had revenue of $101.55 million for the quarter, compared to the consensus estimate of $98.10 million. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, equities research analysts predict that Accuray will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in Accuray in the 2nd quarter worth about $30,000. US Bancorp DE lifted its holdings in shares of Accuray by 1,087.7% in the 3rd quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 16,316 shares during the period. Caprock Group LLC bought a new position in shares of Accuray during the 3rd quarter worth $36,000. Intech Investment Management LLC purchased a new position in shares of Accuray during the third quarter valued at $41,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Accuray in the third quarter valued at about $57,000. 64.08% of the stock is currently owned by institutional investors.

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, 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.