StockNews.com Upgrades Accuray (NASDAQ:ARAY) to "Buy"

Accuray (NASDAQ:ARAY - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Accuray Trading Down 2.7 %

Accuray stock traded down $0.05 during trading hours on Friday, reaching $1.82. The company had a trading volume of 291,679 shares, compared to its average volume of 711,278. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.62 and a quick ratio of 0.88. The company has a 50-day moving average price of $2.15 and a 200 day moving average price of $2.00. The firm has a market cap of $187.15 million, a price-to-earnings ratio of -36.40 and a beta of 1.46. Accuray has a 12-month low of $1.40 and a 12-month high of $2.95.

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

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Hedge Funds Weigh In On Accuray

Several hedge funds have recently made changes to their positions in the business. Heartland Advisors Inc. increased its stake in shares of Accuray by 14.1% during the fourth quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider's stock valued at $7,573,000 after buying an additional 472,800 shares during the period. Renaissance Technologies LLC increased its stake in shares of Accuray by 6.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider's stock valued at $5,900,000 after buying an additional 189,414 shares during the period. Foundry Partners LLC increased its stake in shares of Accuray by 51.3% during the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider's stock valued at $3,937,000 after buying an additional 741,900 shares during the period. Geode Capital Management LLC increased its stake in shares of Accuray by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider's stock valued at $4,329,000 after buying an additional 6,758 shares during the period. Finally, State Street Corp increased its stake in shares of Accuray by 3.8% during the third quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider's stock valued at $3,410,000 after buying an additional 70,008 shares during the period. 64.08% of the stock is owned by hedge funds and other 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.