Accuray (NASDAQ:ARAY) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Accuray Incorporated (NASDAQ:ARAY - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.89 and traded as high as $1.99. Accuray shares last traded at $1.98, with a volume of 239,077 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Accuray from a "buy" rating to a "hold" rating in a research note on Friday, November 15th.

Accuray Stock Performance

The company's 50-day moving average price is $1.92 and its two-hundred day moving average price is $1.89. The stock has a market cap of $184.03 million, a PE ratio of -10.76 and a beta of 1.44. The company has a debt-to-equity ratio of 3.59, a quick ratio of 0.87 and a current ratio of 1.63.

Accuray (NASDAQ:ARAY - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $101.55 million during the quarter, compared to analyst estimates of $98.10 million. Accuray had a negative return on equity of 36.93% and a negative net margin of 3.72%. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities research analysts forecast that Accuray Incorporated will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Accuray by 13.3% in 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 during the period. Renaissance Technologies LLC increased its position in shares of 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 period. Bank of New York Mellon Corp raised its stake in shares of Accuray by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 279,426 shares of the medical equipment provider's stock valued at $509,000 after acquiring an additional 8,864 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Accuray by 1,087.7% during the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 16,316 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of Accuray in the second quarter worth about $30,000. 64.08% of the stock is owned by institutional investors.

Accuray Company Profile

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.