Accuray Inc (NASDAQ: ARAY) has experienced a rise in its stock price by 1.14 compared to its previous closing price of 2.19. However, the company has seen a fall of -5.34% in its stock price over the last five trading days. Seeking Alpha reported 2024-04-07 that Despite management guidance that points to significant revenue acceleration in the next two quarters, Accuray shares have languished. Market skepticism can be tied in part to the company’s track record – despite multiple efforts to improve its portfolio and go-to-market strategy, market share growth has been very modest. The company’s entry into China’s Type B market could be its last best chance to change the narrative – meaningful share in a $600M/year market should be transformative.
Is It Worth Investing in Accuray Inc (NASDAQ: ARAY) Right Now?
The 36-month beta value for ARAY is at 1.48. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 3 as “hold,” and 0 as “sell.”
The public float for ARAY is 93.46M, and currently, shorts hold a 5.64% of that float. The average trading volume for ARAY on April 18, 2024 was 457.03K shares.
ARAY’s Market Performance
ARAY stock saw a decrease of -5.34% in the past week, with a monthly decline of -14.81% and a quarterly a decrease of -20.32%. The volatility ratio for the week is 3.80%, and the volatility levels for the last 30 days are 3.50% for Accuray Inc (ARAY). The simple moving average for the past 20 days is -7.63% for ARAY’s stock, with a -22.76% simple moving average for the past 200 days.
Analysts’ Opinion of ARAY
Many brokerage firms have already submitted their reports for ARAY stocks, with ROTH MKM repeating the rating for ARAY by listing it as a “Buy.” The predicted price for ARAY in the upcoming period, according to ROTH MKM is $9 based on the research report published on February 13, 2024 of the current year 2024.
B. Riley Securities, on the other hand, stated in their research note that they expect to see ARAY reach a price target of $7.50. The rating they have provided for ARAY stocks is “Buy” according to the report published on June 23rd, 2022.
Loop Capital gave a rating of “Buy” to ARAY, setting the target price at $7.50 in the report published on December 22nd of the previous year.
ARAY Trading at -13.39% from the 50-Day Moving Average
After a stumble in the market that brought ARAY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.48% of loss for the given period.
Volatility was left at 3.50%, however, over the last 30 days, the volatility rate increased by 3.80%, as shares sank -14.62% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.95% lower at present.
During the last 5 trading sessions, ARAY fell by -5.13%, which changed the moving average for the period of 200-days by -41.27% in comparison to the 20-day moving average, which settled at $2.38. In addition, Accuray Inc saw -21.73% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ARAY starting from Hoge Michael, who sale 11,991 shares at the price of $2.59 back on Mar 01 ’24. After this action, Hoge Michael now owns 390,208 shares of Accuray Inc, valued at $31,057 using the latest closing price.
Corradetti GIna, the VP, CAO and Controller of Accuray Inc, sale 14,129 shares at $2.74 during a trade that took place back on Jan 03 ’24, which means that Corradetti GIna is holding 196,138 shares at $38,729 based on the most recent closing price.
Stock Fundamentals for ARAY
Current profitability levels for the company are sitting at:
- -0.0 for the present operating margin
- 0.34 for the gross margin
The net margin for Accuray Inc stands at -0.03. The total capital return value is set at -0.0. Equity return is now at value -29.27, with -3.08 for asset returns.
Based on Accuray Inc (ARAY), the company’s capital structure generated 0.81 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 4.24. The interest coverage ratio of the stock is -0.1.
Currently, EBITDA for the company is 2.38 million with net debt to EBITDA at 43.83. When we switch over and look at the enterprise to sales, we see a ratio of 0.78. The receivables turnover for the company is 5.28for trailing twelve months and the total asset turnover is 0.94. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.57.
Conclusion
In conclusion, Accuray Inc (ARAY) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
