Accuray (NASDAQ:ARAY) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Accuray Incorporated (NASDAQ:ARAY) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

Separately, StockNews.com cut Accuray from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th.

Accuray Price Performance

The business’s fifty day moving average price is $2.16 and its 200 day moving average price is $2.02. 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 stock has a market cap of $207.72 million, a P/E ratio of -40.40 and a beta of 1.51.

Accuray (NASDAQ:ARAY) last issued its 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%. Sell-side analysts forecast that Accuray Incorporated will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Accuray

A number of institutional investors and hedge funds have recently bought and sold shares of ARAY. Heartland Advisors Inc. boosted 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 purchasing an additional 472,800 shares in the last quarter. Renaissance Technologies LLC boosted its position in Accuray by 6.8% during the 4th quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider’s stock worth $5,900,000 after buying an additional 189,414 shares during the period. Foundry Partners LLC boosted its position in Accuray by 51.3% during the 3rd quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock worth $3,937,000 after buying an additional 741,900 shares during the period. Geode Capital Management LLC grew its holdings in Accuray by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider’s stock worth $4,329,000 after acquiring an additional 6,758 shares during the last quarter. Finally, State Street Corp increased its position in Accuray by 3.8% in the 3rd quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider’s stock valued at $3,410,000 after acquiring an additional 70,008 shares during the period. Institutional investors and hedge funds own 64.08% of the company’s stock.

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.