Accuray Inc (NASDAQ:ARAY) price on Friday, January 17, fall -2.61% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.24.
A look at the stock’s price movement, the close in the last trading session was $2.30, moving within a range at $2.22 and $2.31. The beta value (5-Year monthly) was 1.404. Turning to its 52-week performance, $2.99 and $1.40 were the 52-week high and 52-week low respectively. Overall, ARAY moved 14.87% over the past month.
Accuray Inc’s market cap currently stands at around $225.27 million, with investors looking forward to this quarter’s earnings report slated for in February.
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 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy 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 9.88% and 12.33% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.03, while 7-day volatility ratio is 6.92% and 6.92% in the 30-day chart. Further, Accuray Inc (ARAY) has a beta value of 1.50, and an average true range (ATR) of 0.14. 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 -167.86% off current price level while to achieve the yearly target high, price needs to move -167.86%. Nonetheless, investors will most likely welcome a -167.86% 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 0.73 over the past 10 days and 659.35K 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 60.90% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.03 million on 2024-12-31, giving us a short ratio of 6.41. The data shows that as of 2024-12-31 short interest in Accuray Inc (ARAY) stood at 409.9999700000001 of shares outstanding, with shares short rising to 3.44 million registered in 2024-11-29. Current price change has pushed the stock 13.13% 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.
