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Those With A Risk-Tolerant Portfolio Can Expect A Bright Future From ViewRay Inc. (NASDAQ: VRAY)

During the last session, ViewRay Inc. (NASDAQ:VRAY)’s traded shares were 2.47 million, with the beta value of the company hitting 0.97. At the end of the trading day, the stock’s price was $0.56, reflecting an intraday loss of -3.43% or -$0.02. The company’s market capitalization is $108.13M, and the average intraday trading volume over the past 10 days was 3.67 million shares, and the average trade volume was 2.61 million shares over the past three months.

ViewRay Inc. (VRAY) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.90. VRAY has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 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 -$0.15.

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ViewRay Inc. (NASDAQ:VRAY) trade information

ViewRay Inc. (VRAY) registered a -3.43% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.43% in intraday trading to $0.56 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -9.92%, and it has moved by -51.30% in 30 days. Based on these gigs, the overall price performance for the year is -81.27%. The short interest in ViewRay Inc. (NASDAQ:VRAY) is 5.77 million shares and it means that shorts have 1.54 day(s) to cover.

The consensus price target of analysts on Wall Street is $1.20, which implies an increase of 53.33% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $2.00 respectively. As a result, VRAY is trading at a discount of -257.14% off the target high and -78.57% off the low.

ViewRay Inc. (VRAY) estimates and forecasts

Statistics show that ViewRay Inc. has underperformed its competitors in share price, compared to the industry in which it operates. ViewRay Inc. (VRAY) shares have gone down -87.98% during the last six months, with a year-to-date growth rate less than the industry average at 0.00% against 9.30. In the rating firms’ projections, revenue will decrease -13.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $19.81 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $22.95 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $22.15 million and $25.02 million respectively. In this case, analysts expect current quarter sales to shrink by -10.60% and then drop by -8.30% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 13.60%. While earnings are projected to return 11.20% in 2023, the next five years will return 10.00% per annum.

VRAY Dividends

ViewRay Inc. is due to release its next quarterly earnings between July 31 and August 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

ViewRay Inc. (NASDAQ:VRAY)’s Major holders

ViewRay Inc. insiders own 7.99% of total outstanding shares while institutional holders control 79.52%, with the float percentage being 86.43%. Hudson Executive Capital, LP is the largest shareholder of the company, while 236 institutions own stock in it. As of Mar 30, 2023, the company held over 15.75 million shares (or 8.59% of all shares), a total value of $54.5 million in shares.

The next largest institutional holding, with 15.48 million shares, is of Artisan Partners Limited Partnership’s that is approximately 8.44% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $53.58 million.

Also, the Mutual Funds coming in first place with the largest holdings of ViewRay Inc. (VRAY) shares are Artisan International Small-Mid Fund and Vanguard Total Stock Market Index Fund. Data provided on Dec 30, 2022 indicates that Artisan International Small-Mid Fund owns about 10.34 million shares. This amounts to just over 5.69 percent of the company’s overall shares, with a $46.32 million market value. The same data shows that the other fund manager holds slightly less at 5.07 million, or about 2.79% of the stock, which is worth about $22.7 million.

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