Accuray Incorporated (NASDAQ:ARAY) Short Interest Down 10.9% in August

Accuray Incorporated (NASDAQ:ARAY) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 6,230,000 shares, a decline of 10.9% from the August 15th total of 6,990,000 shares. Currently, 6.9% of the company’s shares are sold short. Based on an average trading volume of 805,900 shares, the short-interest ratio is presently 7.7 days.

Insiders Place Their Bets

In other Accuray news, President Suzanne C. Winter sold 17,085 shares of Accuray stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $3.82, for a total transaction of $65,264.70. Following the completion of the sale, the president now owns 1,492,073 shares of the company’s stock, valued at approximately $5,699,718.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Accuray

Several institutional investors and hedge funds have recently made changes to their positions in the company. CTC Capital Management LLC acquired a new position in Accuray in the 1st quarter worth $30,000. Ameritas Investment Partners Inc. acquired a new position in Accuray in the 2nd quarter worth $30,000. Royal Bank of Canada boosted its stake in Accuray by 251.4% in the 2nd quarter. Royal Bank of Canada now owns 8,343 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 5,969 shares during the period. Zebra Capital Management LLC acquired a new position in Accuray in the 1st quarter worth $37,000. Finally, Lazard Asset Management LLC acquired a new position in Accuray in the 2nd quarter worth $40,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Accuray Trading Up 3.7 %

Shares of ARAY stock traded up $0.10 on Tuesday, hitting $2.81. The stock had a trading volume of 74,895 shares, compared to its average volume of 528,922. Accuray has a twelve month low of $1.81 and a twelve month high of $4.30. The firm has a market cap of $271.42 million, a P/E ratio of -27.10 and a beta of 1.57. The company has a current ratio of 1.70, a quick ratio of 0.97 and a debt-to-equity ratio of 3.20. The company has a fifty day moving average price of $3.35 and a two-hundred day moving average price of $3.35.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, August 9th. The medical equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). Accuray had a negative net margin of 2.07% and a negative return on equity of 17.80%. The firm had revenue of $118.29 million during the quarter, compared to analyst estimates of $121.50 million. During the same period last year, the firm earned ($0.04) EPS. As a group, analysts forecast that Accuray will post -0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ARAY shares. StockNews.com lowered shares of Accuray from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. TheStreet raised shares of Accuray from a “d+” rating to a “c-” rating in a report on Monday, June 5th.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the Americas, 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.