Accuray Stock Rating Upgraded by StockNews.com

Accuray (NASDAQ:ARAY) saw an upgrade in its stock rating from StockNews.com, moving from a "hold" status to a "buy" rating in a report released on Tuesday.

Accuray Stock Performance

On Tuesday, shares of Accuray decreased by 3.6%, trading down $0.07 to reach $1.85. During mid-day trading, 827,886 shares changed hands, which is higher than the average volume of 780,936 shares. Over the past year, Accuray's stock has fluctuated between a low of $1.40 and a high of $2.95. Financially, the company has a debt-to-equity ratio of 3.51, a current ratio of 1.62, and a quick ratio of 0.88. Its 50-day simple moving average stands at $2.17, while the 200-day simple moving average is $2.03. The market capitalization of Accuray is currently $190.24 million, with a price-to-earnings (PE) ratio of -37.00 and a beta value of 1.51.

Accuray recently released its quarterly earnings report on February 5, revealing earnings per share (EPS) of $0.02, exceeding analysts' expectations of ($0.01) by $0.03. The company reported a negative return on equity of 9.75% and a net margin of -0.96%. Analysts predict that Accuray will report earnings of $0.01 per share for the current fiscal year.

Investor Activity in Accuray

In recent months, several institutional investors have made moves involving Accuray's shares. For example, US Bancorp DE increased its holdings by a staggering 1,087.7% during the third quarter, acquiring an additional 16,316 shares and now holding a total of 17,816 shares valued at approximately $32,000. Similarly, Ameriprise Financial Inc. entered a new position in Accuray during the fourth quarter worth around $35,000. Other notable purchases include Caprock Group LLC, Intech Investment Management LLC, and Prudential Financial Inc., with each investing between $36,000 and $43,000 in Accuray. It is notable that institutional investors currently own 64.08% of the company's stock.

About Accuray

Accuray Incorporated specializes in the design, development, manufacturing, and sale of radiosurgery and radiation therapy systems used in tumor treatment globally, including the U.S., Canada, Europe, Asia, and beyond. The company's standout product is the CyberKnife platform, which provides robotic stereotactic radiosurgery and stereotactic body radiation therapy capabilities for treating various tumors, including those near the spine or in organs such as the breast, kidney, liver, and prostate.

Final Thoughts

As investors and analysts consider Accuray’s latest upgrade and overall performance, it has become an important point of focus in the market. The shift from a "hold" to a "buy" rating could indicate a potential recovery or growth phase for the company in the future.

Accuray, Stocks, Investment