ViewRay Inc. [VRAY] Stock trading around $5.28 per share: What’s Next?

ViewRay Inc. [NASDAQ: VRAY] closed the trading session at $5.28 on 01/08/21. The day’s price range saw the stock hit a low of $5.07, while the highest price level was $6.16. The company report on January 8, 2021 that ViewRay Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares and Closing of Public Offering of Common Stock.

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ViewRay, Inc. (Nasdaq: VRAY), maker of the MRIdian, which combines MRI and external-beam radiation therapy to simultaneously image and treat cancer patients, announced the completion of its previously announced underwritten public offering of 11,856,500 shares of common stock at a price to the public of $4.85 per share, for gross proceeds of approximately $57.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by ViewRay. All of the shares sold in the offering were sold by ViewRay. The shares sold included the full exercise of the underwriter’s option to purchase additional shares.

ViewRay intends to use the net proceeds from the offering for general corporate purposes, including working capital, capital expenditures, continued research and development and commercial expenses.

The stocks have a year to date performance of 38.22 percent and weekly performance of 38.22 percent. The stock has been moved at 141.10 percent over the last six months. The stock has performed 33.00 percent around the most recent 30 days and changed 67.09 percent over the most recent 3-months.

If compared to the average trading volume of 1.64M shares, VRAY reached to a volume of 3777359 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about ViewRay Inc. [VRAY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VRAY shares is $5.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VRAY stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for ViewRay Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 28, 2020. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on June 16, 2020, representing the official price target for ViewRay Inc. stock.

The Average True Range (ATR) for ViewRay Inc. is set at 0.64, with the Price to Sales ratio for VRAY stock in the period of the last 12 months amounting to 17.54. The Price to Book ratio for the last quarter was 5.18, with the Price to Cash per share for the same quarter was set at 0.90.

VRAY stock trade performance evaluation

ViewRay Inc. [VRAY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 38.22. With this latest performance, VRAY shares gained by 33.00% in over the last four-week period, additionally plugging by 141.10% over the last 6 months – not to mention a rise of 38.58% 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 VRAY stock in for the last two-week period is set at 56.46, with the RSI for the last a single of trading hit 53.89, and the three-weeks RSI is set at 57.68 for ViewRay Inc. [VRAY]. The present Moving Average for the last 50 days of trading for this stock 3.95, while it was recorded at 6.30 for the last single week of trading, and 2.90 for the last 200 days.

ViewRay Inc. [VRAY]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ViewRay Inc. [VRAY] shares currently have an operating margin of -137.61 and a Gross Margin at -11.59. ViewRay Inc.’s Net Margin is presently recorded at -136.93.

Return on Total Capital for VRAY is now -47.64, given the latest momentum, and Return on Invested Capital for the company is -47.76. Return on Equity for this stock declined to -62.69, with Return on Assets sitting at -37.27. When it comes to the capital structure of this company, ViewRay Inc. [VRAY] has a Total Debt to Total Equity ratio set at 31.59. Additionally, VRAY Total Debt to Total Capital is recorded at 24.01, with Total Debt to Total Assets ending up at 19.51. Long-Term Debt to Equity for the company is recorded at 29.83, with the Long-Term Debt to Total Capital now at 22.66.

Reflecting on the efficiency of the workforce at the company, ViewRay Inc. [VRAY] managed to generate an average of -$388,994 per employee. Receivables Turnover for the company is 3.15 with a Total Asset Turnover recorded at a value of 0.27.ViewRay Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 3.10.

Earnings per share (EPS) analysis for ViewRay Inc. [VRAY] stock

With the latest financial reports released by the company, ViewRay Inc. posted -0.31/share EPS, while the average EPS was predicted by analysts to be reported at -0.25/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -24.00%. 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 VRAY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ViewRay Inc. go to 10.00%.

ViewRay Inc. [VRAY]: Insider Ownership positions

There are presently around $638 million, or 87.60% of VRAY stock, in the hands of institutional investors. The top three institutional holders of VRAY stocks are: FOSUN INTERNATIONAL LTD with ownership of 23,819,500, which is approximately 0% of the company’s market cap and around 4.20% of the total institutional ownership; FMR LLC, holding 17,825,082 shares of the stock with an approximate value of $94.12 million in VRAY stocks shares; and ARTISAN PARTNERS LIMITED PARTNERSHIP, currently with $79.7 million in VRAY stock with ownership of nearly 30.045% of the company’s market capitalization.

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Positions in ViewRay Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 37 institutional holders increased their position in ViewRay Inc. [NASDAQ:VRAY] by around 6,061,808 shares. Additionally, 67 investors decreased positions by around 7,877,704 shares, while 28 investors held positions by with 106,837,980 shares. The mentioned changes placed institutional holdings at 120,777,492 shares, according to the latest SEC report filing. VRAY stock had 12 new institutional investments in for a total of 458,376 shares, while 22 institutional investors sold positions of 1,210,335 shares during the same period.

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