Accuray Incorporated [ARAY] Stock trading around $4.40 per share: What’s Next?

Accuray Incorporated [NASDAQ: ARAY] gained 12.53% or 0.49 points to close at $4.40 with a heavy trading volume of 3494071 shares. The company report on November 18, 2020 that Accuray and DHL Supply Chain establish global service logistics platform to support delivery of advanced cancer treatment technology.

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Accuray Incorporated (NASDAQ: ARAY) and DHL Supply Chain announced they have entered into a global service parts logistics partnership that will further strengthen the Accuray aftermarket supply chain and expand the company’s high quality customer service globally. The goal of the agreement is to provide medical care teams with continual access to the radiotherapy technologies they need to deliver shorter, personalized and effective treatments to patients with cancerous or benign tumors, or neurologic disorders.

Mike Hoge, SVP, global operations at Accuray said, “We are excited to partner with DHL. The Accuray supply chain and service teams are focused on ensuring our customers have seamless access to our lifesaving equipment. We believe the enhanced capabilities offered by a world class logistics partner like DHL will help us to do just that.”.

It opened the trading session at $3.95, the shares rose to $4.62 and dropped to $3.91, the range by which the price of stock traded the whole day. The daily chart for ARAY points out that the company has recorded 101.83% gains over the past six months. However, it is still -230.83% lower than its most recent low trading price.

If we look at the average trading volume of 793.53K shares, ARAY reached to a volume of 3494071 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Accuray Incorporated [ARAY]:

BTIG Research have made an estimate for Accuray Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 21, 2020. The new note on the price target was released on November 01, 2018, representing the official price target for Accuray Incorporated stock.

The Average True Range (ATR) for Accuray Incorporated is set at 0.27, with the Price to Sales ratio for ARAY stock in the period of the last 12 months amounting to 1.06. The Price to Book ratio for the last quarter was 5.95, with the Price to Cash per share for the same quarter was set at 0.99. Price to Free Cash Flow for ARAY in the course of the last twelve months was 23.02 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for ARAY stock

Accuray Incorporated [ARAY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.68. With this latest performance, ARAY shares gained by 41.94% in over the last four-week period, additionally plugging by 101.83% over the last 6 months – not to mention a rise of 55.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARAY stock in for the last two-week period is set at 76.43, with the RSI for the last a single of trading hit 80.03, and the three-weeks RSI is set at 72.74 for Accuray Incorporated [ARAY]. The present Moving Average for the last 50 days of trading for this stock 3.00, while it was recorded at 4.03 for the last single week of trading, and 2.45 for the last 200 days.

Accuray Incorporated [ARAY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Accuray Incorporated [ARAY] shares currently have an operating margin of +3.56 and a Gross Margin at +39.10. Accuray Incorporated’s Net Margin is presently recorded at +1.00.

Return on Total Capital for ARAY is now 5.51, given the latest momentum, and Return on Invested Capital for the company is 1.57. Return on Equity for this stock inclined to 6.74, with Return on Assets sitting at 0.82. When it comes to the capital structure of this company, Accuray Incorporated [ARAY] has a Total Debt to Total Equity ratio set at 348.40. Additionally, ARAY Total Debt to Total Capital is recorded at 77.70, with Total Debt to Total Assets ending up at 45.16. Long-Term Debt to Equity for the company is recorded at 335.48, with the Long-Term Debt to Total Capital now at 74.82.

Reflecting on the efficiency of the workforce at the company, Accuray Incorporated [ARAY] managed to generate an average of $4,106 per employee. Receivables Turnover for the company is 3.77 with a Total Asset Turnover recorded at a value of 0.82.Accuray Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 2.00.

Accuray Incorporated [ARAY]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Accuray Incorporated posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 271.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARAY.

An analysis of insider ownership at Accuray Incorporated [ARAY]

There are presently around $288 million, or 74.40% of ARAY stock, in the hands of institutional investors. The top three institutional holders of ARAY stocks are: BLACKROCK INC. with ownership of 6,833,724, which is approximately 3.403% of the company’s market cap and around 2.00% of the total institutional ownership; NEUBERGER BERMAN GROUP LLC, holding 5,594,049 shares of the stock with an approximate value of $24.61 million in ARAY stocks shares; and VANGUARD GROUP INC, currently with $22.54 million in ARAY stock with ownership of nearly -1.248% of the company’s market capitalization.

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Positions in Accuray Incorporated stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 43 institutional holders increased their position in Accuray Incorporated [NASDAQ:ARAY] by around 4,582,004 shares. Additionally, 54 investors decreased positions by around 5,375,546 shares, while 36 investors held positions by with 55,557,770 shares. The mentioned changes placed institutional holdings at 65,515,320 shares, according to the latest SEC report filing. ARAY stock had 11 new institutional investments in for a total of 228,344 shares, while 12 institutional investors sold positions of 1,692,124 shares during the same period.

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