Accuray Incorporated (NASDAQ:ARAY) Short Interest Update

Accuray Incorporated (NASDAQ:ARAY) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 4,830,000 shares, a decrease of 10.9% from the July 15th total of 5,420,000 shares. Based on an average trading volume of 575,400 shares, the days-to-cover ratio is presently 8.4 days.

Insider Transactions at Accuray

In other Accuray news, Director Joseph E. Whitters acquired 50,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $1.54 per share, with a total value of $77,000.00. Following the transaction, the director now owns 511,053 shares in the company, valued at approximately $787,021.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Accuray

A number of large investors have recently modified their holdings of ARAY. The Manufacturers Life Insurance Company increased its position in Accuray by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 44,936 shares of the medical equipment provider’s stock worth $82,000 after buying an additional 5,273 shares in the last quarter. AQR Capital Management LLC acquired a new position in Accuray in the second quarter valued at $30,000. Armistice Capital LLC acquired a new position in Accuray in the second quarter valued at $910,000. Hsbc Holdings PLC boosted its holdings in Accuray by 55.1% in the second quarter. Hsbc Holdings PLC now owns 101,683 shares of the medical equipment provider’s stock valued at $180,000 after acquiring an additional 36,108 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Accuray by 0.3% in the second quarter. Renaissance Technologies LLC now owns 2,812,184 shares of the medical equipment provider’s stock valued at $5,118,000 after acquiring an additional 7,500 shares during the last quarter. 64.08% of the stock is owned by hedge funds and other institutional investors.

Accuray Stock Up 5.5 %

Shares of NASDAQ ARAY opened at $2.29 on Monday. The stock has a market cap of $227.27 million, a PE ratio of -10.41 and a beta of 1.45. The company has a quick ratio of 0.78, a current ratio of 1.58 and a debt-to-equity ratio of 4.05. Accuray has a 52-week low of $1.40 and a 52-week high of $3.10. The business has a 50-day moving average price of $1.78 and a 200 day moving average price of $2.08.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Wednesday, August 14th. The medical equipment provider reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Accuray had a negative return on equity of 44.46% and a negative net margin of 4.99%. The company had revenue of $134.29 million during the quarter, compared to analysts’ expectations of $122.80 million. During the same period last year, the firm earned ($0.03) EPS. Equities research analysts forecast that Accuray will post -0.16 earnings per share for the current year.

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, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, 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.