BTIG Research Has Lowered Expectations for Accuray (NASDAQ:ARAY) Stock Price

Accuray (NASDAQ:ARAY) had its price target dropped by research analysts at BTIG Research from $5.00 to $4.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. BTIG Research’s price target suggests a potential upside of 241.88% from the company’s current price.

Several other research analysts also recently commented on the stock. Wall Street Zen raised shares of Accuray from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Accuray in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.00.

Accuray Stock Performance

Shares of ARAY opened at $1.17 on Thursday. Accuray has a 52-week low of $1.10 and a 52-week high of $2.95. The stock’s 50-day simple moving average is $1.59 and its 200 day simple moving average is $1.49. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.92 and a current ratio of 1.65. The stock has a market capitalization of $131.88 million, a price-to-earnings ratio of -58.50 and a beta of 1.39.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.13). Accuray had a negative net margin of 0.35% and a negative return on equity of 4.92%. The company had revenue of $93.94 million for the quarter, compared to the consensus estimate of $91.34 million. Accuray has set its FY 2026 guidance at EPS. Research analysts forecast that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Trading of Accuray

A number of hedge funds have recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Accuray in the 1st quarter valued at $609,000. Hsbc Holdings PLC boosted its position in Accuray by 15.4% during the first quarter. Hsbc Holdings PLC now owns 122,654 shares of the medical equipment provider’s stock valued at $221,000 after buying an additional 16,389 shares during the period. Williams & Novak LLC grew its stake in shares of Accuray by 25.5% during the second quarter. Williams & Novak LLC now owns 68,970 shares of the medical equipment provider’s stock valued at $94,000 after buying an additional 14,000 shares during the last quarter. Armistice Capital LLC increased its holdings in shares of Accuray by 105.2% in the first quarter. Armistice Capital LLC now owns 2,536,000 shares of the medical equipment provider’s stock worth $4,539,000 after buying an additional 1,300,000 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Accuray by 18,739.1% in the first quarter. Russell Investments Group Ltd. now owns 192,912 shares of the medical equipment provider’s stock worth $345,000 after buying an additional 191,888 shares during the period. 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, 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.