ViewRay Inc. [NASDAQ: VRAY] loss -17.19% on the last trading session, reaching $0.83 price per share at the time. The company report on May 10, 2023 at 4:01 PM that ViewRay Announces First Quarter 2023 Results.
ViewRay, Inc. (Nasdaq: VRAY) (the “Company”) today announced financial results for the first quarter ended March 31, 2023.
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ViewRay Inc. represents 181.41 million in outstanding shares, while the company has a total market value of $150.40 million with the latest information. VRAY stock price has been found in the range of $0.8051 to $0.9208.
If compared to the average trading volume of 2.19M shares, VRAY reached a trading volume of 4404044 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 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 $2.50 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 2.60. 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 Neutral, with their previous recommendation back on May 11, 2023. While these analysts kept the previous recommendation, Jefferies dropped their target price from $7 to $1.25. The new note on the price target was released on April 17, 2023, representing the official price target for ViewRay Inc. stock. Previously, the target price had yet another drop from $7 to $1.75, while Stifel kept a Hold rating on VRAY stock.
The Average True Range (ATR) for ViewRay Inc. is set at 0.13, with the Price to Sales ratio for VRAY stock in the period of the last 12 months amounting to 1.47. The Price to Book ratio for the last quarter was 1.84, with the Price to Cash per share for the same quarter was set at 0.75.
Trading performance analysis for VRAY stock
ViewRay Inc. [VRAY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.37. With this latest performance, VRAY shares dropped by -72.49% in over the last four-week period, additionally sinking by -81.31% over the last 6 months – not to mention a drop of -68.27% 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 14.22, with the RSI for the last a single of trading hit 15.27, and the three-weeks RSI is set at 15.06 for ViewRay Inc. [VRAY]. The present Moving Average for the last 50 days of trading for this stock 2.5206, while it was recorded at 0.9623 for the last single week of trading, and 3.7413 for the last 200 days.
ViewRay Inc. [VRAY]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and ViewRay Inc. [VRAY] shares currently have an operating margin of -103.04 and a Gross Margin at +5.01. ViewRay Inc.’s Net Margin is presently recorded at -105.01.
Return on Total Capital for VRAY is now -51.84, given the latest momentum, and Return on Invested Capital for the company is -53.98. Return on Equity for this stock declined to -85.17, with Return on Assets sitting at -36.19. When it comes to the capital structure of this company, ViewRay Inc. [VRAY] has a Total Debt to Total Equity ratio set at 105.06. Additionally, VRAY Total Debt to Total Capital is recorded at 51.23, with Total Debt to Total Assets ending up at 31.84. Long-Term Debt to Equity for the company is recorded at 101.58, with the Long-Term Debt to Total Capital now at 49.54.
Reflecting on the efficiency of the workforce at the company, ViewRay Inc. [VRAY] managed to generate an average of -$363,831 per employee. Receivables Turnover for the company is 2.91 with a Total Asset Turnover recorded at a value of 0.34.ViewRay Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.40.
ViewRay Inc. [VRAY]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at ViewRay Inc. [VRAY]
There are presently around $129 million, or 86.20% of VRAY stock, in the hands of institutional investors. The top three institutional holders of VRAY stocks are: HUDSON EXECUTIVE CAPITAL LP with ownership of 15,752,093, which is approximately 0% of the company’s market cap and around 2.70% of the total institutional ownership; ARTISAN PARTNERS LIMITED PARTNERSHIP, holding 15,484,750 shares of the stock with an approximate value of $12.82 million in VRAY stocks shares; and PURA VIDA INVESTMENTS, LLC, currently with $10.39 million in VRAY stock with ownership of nearly -8.166% of the company’s market capitalization.
Positions in ViewRay Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 81 institutional holders increased their position in ViewRay Inc. [NASDAQ:VRAY] by around 25,108,699 shares. Additionally, 69 investors decreased positions by around 8,383,899 shares, while 43 investors held positions by with 122,907,497 shares. The mentioned changes placed institutional holdings at 156,400,095 shares, according to the latest SEC report filing. VRAY stock had 28 new institutional investments in for a total of 5,139,503 shares, while 16 institutional investors sold positions of 521,651 shares during the same period.