Notable Runner: Is Selling Accuray Incorporated Here a Winning Strategy?

Notable Runner: Is Selling Accuray Incorporated Here a Winning Strategy?

The stock of Accuray Incorporated (NASDAQ:ARAY) hit a new 52-week low and has $4.14 target or 12.00% below today’s $4.70 share price. The 5 months bearish chart indicates high risk for the $387.61 million company. The 1-year low was reported on Nov, 4 by Barchart.com. If the $4.14 price target is reached, the company will be worth $46.51M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 81,674 shares traded hands. Accuray Incorporated (NASDAQ:ARAY) has declined 18.10% since April 4, 2016 and is downtrending. It has underperformed by 19.19% the S&P500.

Accuray Incorporated (NASDAQ:ARAY) Ratings Coverage

Out of 3 analysts covering Accuray (NASDAQ:ARAY), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. $8 is the highest target while $6 is the lowest. The $6.75 average target is 43.62% above today’s ($4.7) stock price. Accuray has been the topic of 7 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating given on Thursday, November 12 by Citigroup. On Wednesday, August 5 the stock rating was upgraded by Zacks to “Sell”. RBC Capital Markets initiated Accuray Incorporated (NASDAQ:ARAY) rating on Tuesday, December 22. RBC Capital Markets has “Sector Perform” rating and $8 price target. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, January 29. The stock of Accuray Incorporated (NASDAQ:ARAY) earned “Neutral” rating by BTIG Research on Friday, August 21. On Tuesday, August 25 the stock rating was downgraded by Zacks to “Buy”. The rating was initiated by Cowen & Co on Tuesday, September 13 with “Outperform”.

According to Zacks Investment Research, “ACCURAY INCORPORATED based in Sunnyvale, Calif., is a global leader in the field of radiosurgery dedicated to providing an improved quality of life and a non-surgical treatment option for those diagnosed with cancer. Accuray develops and markets the CyberKnife Robotic Radiosurgery System, which extends the benefits of radiosurgery to include extracranial tumors, including those in the spine, lung, prostate, liver and pancreas. To date, the CyberKnife System has been used to treat more than 40,000 patients worldwide and currently more than 130 systems have been installed in leading hospitals in the Americas, Europe and Asia.”

Insitutional Activity: The institutional sentiment decreased to 1.12 in 2016 Q2. Its down 0.17, from 1.29 in 2016Q1. The ratio dived, as 16 funds sold all Accuray Incorporated shares owned while 35 reduced positions. 17 funds bought stakes while 40 increased positions. They now own 71.42 million shares or 12.01% less from 81.17 million shares in 2016Q1.
Princeton Alpha Management Limited Partnership reported 11,747 shares or 0.01% of all its holdings. Cwm Limited Liability accumulated 1,000 shares or 0% of the stock. Principal Fincl Group reported 15,938 shares or 0% of all its holdings. Kennedy Capital Mngmt Incorporated holds 0.05% or 499,880 shares in its portfolio. California Pub Employees Retirement Sys holds 0% or 105,100 shares in its portfolio. Primecap Management Ca has invested 0.05% of its portfolio in Accuray Incorporated (NASDAQ:ARAY). The Texas-based Teacher Retirement Systems Of Texas has invested 0% in Accuray Incorporated (NASDAQ:ARAY). Voya Invest Mngmt Ltd Llc last reported 38,111 shares in the company. Boston Prtnrs holds 4.56 million shares or 0.03% of its portfolio. Creative Planning has invested 0% of its portfolio in Accuray Incorporated (NASDAQ:ARAY). Moreover, Great West Life Assurance Com Can has 0% invested in Accuray Incorporated (NASDAQ:ARAY) for 5,069 shares. Campbell And Adviser Ltd has 15,165 shares for 0.4% of their US portfolio. Nationwide Fund Advisors accumulated 50,879 shares or 0% of the stock. Moreover, Vanguard Group Inc has 0% invested in Accuray Incorporated (NASDAQ:ARAY) for 5.75M shares. Wells Fargo & Co Mn last reported 2.18 million shares in the company.

More news for Accuray Incorporated (NASDAQ:ARAY) were recently published by: Fool.com, which released: “Why Accuray Incorporated Is Tumbling 12.5% Today” on August 18, 2016. Fool.com‘s article titled: “Better Buy: Intuitive Surgical, Inc. vs. Accuray Incorporated” and published on February 10, 2016 is yet another important article.

ARAY Company Profile

Accuray Incorporated, incorporated on February 22, 2001, is a radiation oncology company. The Firm develops, makes, sells and supports treatment solutions. It develops, makes and markets medical devices used in radiation therapy for the treatment of cancer patients. The Company’s suite of products includes the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. The Company’s technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver a range of treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.

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