Price Action To Observe: Accuray Incorporated’s Stock Is Sell After Reaching 1 Year Low

Price Action To Observe: Accuray Incorporated's Stock Is Sell After Reaching 1 Year Low

The stock of Accuray Incorporated (NASDAQ:ARAY) hit a new 52-week low and has $4.05 target or 12.00% below today’s $4.60 share price. The 9 months bearish chart indicates high risk for the $371.88M company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $4.05 price target is reached, the company will be worth $44.63 million 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 426,024 shares traded hands. Accuray Incorporated (NASDAQ:ARAY) has declined 19.22% since April 7, 2016 and is downtrending. It has underperformed by 24.00% 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. Accuray has been the topic of 7 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Wednesday, August 5 the stock rating was upgraded by Zacks to “Sell”. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, January 29. As per Tuesday, August 25, the company rating was downgraded by Zacks. The rating was maintained by BTIG Research with “Neutral” on Friday, August 21. Citigroup initiated Accuray Incorporated (NASDAQ:ARAY) on Thursday, November 12 with “Sell” rating. The firm has “Sector Perform” rating given on Tuesday, December 22 by RBC Capital Markets. The rating was initiated by Cowen & Co with “Outperform” on Tuesday, September 13.

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 Q2 2016. Its down 0.17, from 1.29 in 2016Q1. The ratio dropped, 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.
Menlo Advsrs Ltd holds 0.1% or 22,000 shares in its portfolio. New York State Common Retirement Fund, a New York-based fund reported 103,820 shares. Metropolitan Life Insur Ny, a New York-based fund reported 55,663 shares. Td Asset Management holds 0% or 33,828 shares in its portfolio. D E Shaw Inc last reported 1.39 million shares in the company. Tower Cap (Trc) has 440 shares for 0% of their US portfolio. Bank Of Montreal Can last reported 0% of its portfolio in the stock. Us Bank & Trust De accumulated 9,108 shares or 0% of the stock. Art Advsrs Ltd Liability Corp owns 122,908 shares or 0.03% of their US portfolio. Menta Cap Limited Liability last reported 0.18% of its portfolio in the stock. Invesco accumulated 0% or 30,736 shares. Goldman Sachs Grp Inc Inc accumulated 0% or 115,078 shares. Blackrock Fund Advisors holds 2.64M shares or 0% of its portfolio. Legal & General Group Incorporated Public Limited Com accumulated 0% or 16,056 shares. Blackrock Limited Liability Corp last reported 313,041 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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