Accuray Incorporated (NASDAQ:ARAY) Sees Large Growth in Short Interest

Accuray Incorporated (NASDAQ:ARAY) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,030,000 shares, an increase of 12.3% from the December 15th total of 3,590,000 shares. Based on an average daily volume of 624,600 shares, the short-interest ratio is presently 6.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARAY. AQR Capital Management LLC acquired a new stake in Accuray during the 2nd quarter worth about $30,000. US Bancorp DE grew its holdings in 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 acquiring an additional 16,316 shares during the period. Caprock Group LLC purchased a new position in Accuray during the third quarter valued at approximately $36,000. Intech Investment Management LLC acquired a new position in Accuray in the third quarter valued at approximately $41,000. Finally, Thrivent Financial for Lutherans purchased a new stake in Accuray in the 3rd quarter worth approximately $57,000. 64.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Accuray from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Accuray Stock Down 2.6 %

Shares of ARAY stock opened at $2.24 on Friday. Accuray has a fifty-two week low of $1.40 and a fifty-two week high of $2.99. The firm has a market capitalization of $225.28 million, a PE ratio of -13.18 and a beta of 1.47. The company has a debt-to-equity ratio of 3.59, a quick ratio of 0.87 and a current ratio of 1.63. The stock’s 50-day simple moving average is $1.99 and its 200-day simple moving average is $1.92.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. The company had revenue of $101.55 million for the quarter, compared to the consensus estimate of $98.10 million. During the same quarter in the prior year, the company earned ($0.03) EPS. Equities analysts expect that Accuray will post 0.01 earnings per share for the current year.

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.