Viewray (NASDAQ:VRAY) Trading Down 2%

Viewray Inc (NASDAQ:VRAY) shares dropped 2% during mid-day trading on Thursday . The company traded as low as $3.97 and last traded at $4.00, approximately 120,596 shares were traded during mid-day trading. A decline of 93% from the average daily volume of 1,712,076 shares. The stock had previously closed at $4.08.

Several brokerages have recently commented on VRAY. ValuEngine raised Viewray from a “hold” rating to a “buy” rating in a research report on Tuesday. BidaskClub raised Viewray from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Jefferies Financial Group decreased their price objective on Viewray from $14.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Northland Securities reaffirmed a “buy” rating and set a $5.00 target price on shares of Viewray in a research note on Monday, August 19th. Finally, Oppenheimer began coverage on Viewray in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $7.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $6.10.

The company has a quick ratio of 2.58, a current ratio of 3.70 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $330.03 million, a price-to-earnings ratio of -4.10 and a beta of 1.09. The stock’s 50 day moving average price is $2.86 and its two-hundred day moving average price is $5.53.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The business had revenue of $20.90 million during the quarter, compared to analyst estimates of $20.66 million. Viewray had a negative return on equity of 75.41% and a negative net margin of 110.61%. Viewray’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the company earned ($0.39) earnings per share. On average, equities analysts expect that Viewray Inc will post -1.13 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of VRAY. Investor AB purchased a new stake in shares of Viewray during the 3rd quarter worth about $232,000. Millennium Management LLC grew its stake in shares of Viewray by 114.7% in the 3rd quarter. Millennium Management LLC now owns 1,549,067 shares of the company’s stock valued at $4,492,000 after buying an additional 827,592 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of Viewray in the 3rd quarter valued at approximately $39,000. Virtu Financial LLC bought a new stake in shares of Viewray in the 3rd quarter valued at approximately $121,000. Finally, Kahn Brothers Group Inc. DE increased its holdings in Viewray by 202.0% in the third quarter. Kahn Brothers Group Inc. DE now owns 339,800 shares of the company’s stock worth $985,000 after buying an additional 227,300 shares during the last quarter.

Viewray Company Profile (NASDAQ:VRAY)

ViewRay, Inc designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Company offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered.

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