ViewRay Target of Unusually High Options Trading (NASDAQ:VRAY)

ViewRay, Inc. (NASDAQ:VRAYGet Rating) saw some unusual options trading on Tuesday. Investors purchased 6,344 call options on the company. This is an increase of approximately 313% compared to the typical daily volume of 1,537 call options.

Institutional Investors Weigh In On ViewRay

Institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new stake in shares of ViewRay in the second quarter valued at about $28,000. Baird Financial Group Inc. purchased a new position in ViewRay during the first quarter worth about $42,000. Bayesian Capital Management LP purchased a new position in ViewRay during the fourth quarter worth about $63,000. Hunter Associates Investment Management LLC purchased a new position in ViewRay during the second quarter worth about $32,000. Finally, Jupiter Asset Management Ltd. purchased a new position in ViewRay during the first quarter worth about $48,000. 86.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VRAY. Piper Sandler lowered their target price on shares of ViewRay from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. BTIG Research lowered their target price on shares of ViewRay from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, June 24th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, ViewRay has a consensus rating of “Moderate Buy” and an average price target of $7.00.

ViewRay Stock Performance

NASDAQ VRAY opened at $3.97 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.04 and a quick ratio of 2.66. ViewRay has a 1 year low of $2.39 and a 1 year high of $8.25. The company has a market capitalization of $718.61 million, a PE ratio of -6.62 and a beta of 1.10. The company has a fifty day moving average of $3.37 and a two-hundred day moving average of $3.25.

ViewRay (NASDAQ:VRAYGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). ViewRay had a negative net margin of 131.20% and a negative return on equity of 75.54%. The company had revenue of $22.15 million during the quarter, compared to the consensus estimate of $19.57 million. As a group, analysts expect that ViewRay will post -0.57 earnings per share for the current year.

About ViewRay

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ViewRay, Inc designs, manufactures, and markets magnetic resonance imaging (MRI) guided radiation therapy systems to image and treat cancer patients in the United States, France, Taiwan, the United Kingdom, and internationally. The company provides MRIdian, which is an MRI guided radiation therapy system that addresses beam distortion, skin toxicity, and other concerns.

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