Accuray Inc (NASDAQ:ARAY) price on Friday, December 27, fall -7.58% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.83.
A look at the stock’s price movement, the close in the last trading session was $1.98, moving within a range at $1.795 and $1.97. The beta value (5-Year monthly) was 1.404. Turning to its 52-week performance, $3.05 and $1.40 were the 52-week high and 52-week low respectively. Overall, ARAY moved -6.63% over the past month.
Accuray Inc’s market cap currently stands at around $184.04 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 110.36M for the company’s revenue for the quarter, with a low and high estimate of 109M and 112.6M respectively. The average forecast suggests up to a 2.91% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 466.89M, representing a 4.55% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ARAY is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 1 recommend ARAY as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ARAY’s current price about -7.04% and -4.16% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 44.47, while 7-day volatility ratio is 5.82% and 6.06% in the 30-day chart. Further, Accuray Inc (ARAY) has a beta value of 1.46, and an average true range (ATR) of 0.11. Analysts have given the company’s stock an average 52-week price target of $6, forecast between a low of $6 and high of $6. Looking at the price targets, the low is -227.87% off current price level while to achieve the yearly target high, price needs to move -227.87%. Nonetheless, investors will most likely welcome a -227.87% jump to $6 which is the analysts’ median price.
If we refocus on Accuray Inc (NASDAQ:ARAY), historical trading data shows that trading volumes averaged 0.5 over the past 10 days and 603.51K over the past 3 months. The company’s latest data on shares outstanding shows there are 100.44 million shares.
The 4.97% of Accuray Inc’s shares are in the hands of company insiders while institutional holders own 60.88% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.44 million on 2024-11-29, giving us a short ratio of 4.89. The data shows that as of 2024-11-29 short interest in Accuray Inc (ARAY) stood at 350.99998 of shares outstanding, with shares short falling to 3.94 million registered in 2024-10-31. Current price change has pushed the stock -35.34% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ARAY stock continues to rise going into the next quarter.
