Notable Reporting: Is Selling All-time Stock Like Viewray Inc a Winning Strategy?

Notable Reporting: Is Selling All time Stock Like Viewray Inc a Winning Strategy?

The stock of Viewray Inc (NASDAQ:VRAY) reached all time low today, Oct, 28 and still has $2.39 target or 12.00% below today’s $2.72 share price. This indicates more downside for the $120.95M company. This technical setup was reported by Barchart.com. If the $2.39 PT is reached, the company will be worth $14.51 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 2.51% or $0.07 during the last trading session, hitting $2.72. About 62,750 shares traded hands. Viewray Inc (NASDAQ:VRAY) has declined 27.15% since March 28, 2016 and is downtrending. It has underperformed by 31.87% the S&P500.

Analysts await Viewray Inc (NASDAQ:VRAY) to report earnings on November, 14. They expect $-0.28 EPS, up 20.00% or $0.07 from last year’s $-0.35 per share. After $-0.32 actual EPS reported by Viewray Inc for the previous quarter, Wall Street now forecasts -12.50% EPS growth.

According to Zacks Investment Research, “ViewRay Inc. is a medical device company. The company develops advanced radiation therapy technology for the treatment of cancer. MRIdian system provides continuous soft-tissue imaging during treatment. ViewRay Inc. is headquartered in Oakwood Village, Ohio.”

More notable recent Viewray Inc (NASDAQ:VRAY) news were published by: Prnewswire.com which released: “ViewRay® Appoints Ajay Bansal as Chief Financial Officer” on June 09, 2016, also Crainscleveland.com with their article: “ViewRay Inc. approved to list its stock on the NASDAQ Global Market” published on March 29, 2016, Crainscleveland.com published: “ViewRay Inc. secures $30 million in fresh financing” on December 17, 2013. More interesting news about Viewray Inc (NASDAQ:VRAY) were released by: Crainscleveland.com and their article: “ViewRay Inc. files to raise up to $69 million in initial public offering” published on March 06, 2015 as well as Prnewswire.com‘s news article titled: “ViewRay Completes Alternative Public Offering, Raises $26.7 Million” with publication date: July 23, 2015.

VRAY Company Profile

ViewRay, Inc., incorporated on October 6, 2013, through its subsidiary ViewRay Technologies, Inc., designs, makes and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Firm offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered.

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