Accuray (NASDAQ:ARAY) Share Price Crosses Above 200-Day Moving Average - What's Next?

Accuray Incorporated (NASDAQ:ARAY - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.02 and traded as high as $2.09. Accuray shares last traded at $2.02, with a volume of 571,793 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Accuray from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th.

Accuray Trading Up 0.5 %

The stock has a market capitalization of $206.69 million, a PE ratio of -40.20 and a beta of 1.51. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 3.51. The business's 50-day moving average is $2.17 and its two-hundred day moving average is $2.02.

Accuray (NASDAQ:ARAY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. On average, analysts anticipate that Accuray Incorporated will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp increased its stake in Accuray by 1,123.1% in the fourth quarter. Mackenzie Financial Corp now owns 272,846 shares of the medical equipment provider's stock valued at $540,000 after purchasing an additional 250,539 shares during the period. Squarepoint Ops LLC increased its stake in Accuray by 36.0% in the fourth quarter. Squarepoint Ops LLC now owns 61,804 shares of the medical equipment provider's stock valued at $122,000 after purchasing an additional 16,368 shares during the period. Two Sigma Investments LP acquired a new position in Accuray in the fourth quarter valued at $144,000. Two Sigma Advisers LP increased its stake in Accuray by 41.9% in the fourth quarter. Two Sigma Advisers LP now owns 70,513 shares of the medical equipment provider's stock valued at $140,000 after purchasing an additional 20,813 shares during the period. Finally, State of Wyoming increased its stake in Accuray by 102.6% in the fourth quarter. State of Wyoming now owns 99,679 shares of the medical equipment provider's stock valued at $197,000 after purchasing an additional 50,485 shares during the period. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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, 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.