Risk-Tolerant Investors Should Take A Chance On Accuray Incorporated (NASDAQ: ARAY) – Marketing Sentinel
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Risk-Tolerant Investors Should Take A Chance On Accuray Incorporated (NASDAQ: ARAY)

During the last session, Accuray Incorporated (NASDAQ:ARAY)’s traded shares were 0.39 million, with the beta value of the company hitting 1.86. At the end of the trading day, the stock’s price was $3.95, reflecting an intraday loss of -2.71% or -$0.11. The 52-week high for the ARAY share is $6.01, that puts it down -52.15 from that peak though still a striking 45.06% gain since the share price plummeted to a 52-week low of $2.17. The company’s market capitalization is $344.64M, and the average intraday trading volume over the past 10 days was 0.37 million shares, and the average trade volume was 519.16K shares over the past three months.

Accuray Incorporated (ARAY) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.60. ARAY has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.02.

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Accuray Incorporated (NASDAQ:ARAY) trade information

Accuray Incorporated (ARAY) registered a -2.71% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.71% in intraday trading to $3.95 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is -2.95%, and it has moved by -5.28% in 30 days. Based on these gigs, the overall price performance for the year is 74.78%. The short interest in Accuray Incorporated (NASDAQ:ARAY) is 9.56 million shares and it means that shorts have 23.28 day(s) to cover.

The consensus price target of analysts on Wall Street is $8.20, which implies an increase of 51.83% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $10.00 respectively. As a result, ARAY is trading at a discount of -153.16% off the target high and -77.22% off the low.

Accuray Incorporated (ARAY) estimates and forecasts

Statistics show that Accuray Incorporated has underperformed its competitors in share price, compared to the industry in which it operates. Accuray Incorporated (ARAY) shares have gone down -20.36% during the last six months, with a year-to-date growth rate less than the industry average at -50.00% against 16.90. In the rating firms’ projections, revenue will increase 3.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $110.94 million as predicted by 5 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $88.58 million by the end of Sep 2021.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 26.40%. While earnings are projected to return -262.40% in 2021.

ARAY Dividends

Accuray Incorporated is due to release its next quarterly earnings between October 27 and November 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Accuray Incorporated (NASDAQ:ARAY)’s Major holders

Accuray Incorporated insiders own 3.48% of total outstanding shares while institutional holders control 80.70%, with the float percentage being 83.61%. Blackrock Inc. is the largest shareholder of the company, while 184 institutions own stock in it. As of Jun 29, 2021, the company held over 7.91 million shares (or 8.71% of all shares), a total value of $35.78 million in shares.

The next largest institutional holding, with 5.12 million shares, is of Neuberger Berman Group, LLC’s that is approximately 5.64% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $23.14 million.

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Also, the Mutual Funds coming in first place with the largest holdings of Accuray Incorporated (ARAY) shares are Heartland Value Fund and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2021 indicates that Heartland Value Fund owns about 2.9 million shares. This amounts to just over 3.19 percent of the company’s overall shares, with a $14.36 million market value. The same data shows that the other fund manager holds slightly less at 2.47 million, or about 2.72% of the stock, which is worth about $12.22 million.

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