Accuray Incorporated (NASDAQ:ARAY) is -0.13 points lower today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has plummeted by nearly -3.45% to $3.49 from its previous close of $3.62. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 228345 contracts so far this session. ARAY shares had a relatively better volume day versus average trading capacity of 662.53 thousand shares, but with a 86.71 million float and a 0.84% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ARAY stock indicates that the average analyst price target is $8.38 per share. This means the stock has a potential increase of 140.11% from where the ARAY share price has been trading recently.
During the recent trading session for Accuray Incorporated (NASDAQ:ARAY), the company witnessed their stock rise $0.1 over a week and surge $0.11 from the price 20 days ago. When compared to their established 52-week high of $5.4, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/22/19. The recent low of $2.35 stood for a -35.28% since 08/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.83 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Accuray Incorporated, the two-week RSI stands at 50.37. This figure suggests that ARAY stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ARAY readings is similarly very revealing as it has a stochastic reading of 18.79% at this stage. This figure means that ARAY share price today is being overbought.
Technical chart claims that Accuray Incorporated (ARAY) would settle between $3.71/share to $3.81/share level. However, if the stock price goes below the $3.49 mark, then the market for Accuray Incorporated becomes much weaker. If that happens, the stock price might even plunge as low as $3.37 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.05. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BTIG Research raised their recommendation on shares of ARAY from Neutral to Buy in their opinion released on January 21. Citigroup analysts bumped their rating on Accuray Incorporated (NASDAQ:ARAY) stock from Sell to Neutral in a separate flash note issued to investors on November 01. Analysts at JP Morgan lowered the stock to a Underweight call from its previous Neutral recommendation, in a research note that dated back to December 13.
ARAY equity has an average rating of 2.5, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 4 analysts rated Accuray Incorporated (NASDAQ:ARAY) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ARAY stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 58.9. Accuray Incorporated current P/B ratio of 5.8 means it is trading at a premium against its industry’s 4.8.
Accuray Incorporated (ARAY)’s current-quarter revenues are projected to climb by nearly 0.3% to hit $103570, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -1.4% from $418790 to a noteworthy $412940. At the other end of the current quarter income statement, Accuray Incorporated is expected to see its adjusted earnings surge by roughly -200% to hit $-0.03 per share. For the fiscal year, ARAY’s earnings are projected to climb by roughly 94.7% to hit $-0.01 per share.