ViewRay (VRAY) Trading Down 5.9%

ViewRay, Inc. (NASDAQ:VRAY)’s share price traded down 5.9% during mid-day trading on Tuesday . The stock traded as low as $8.93 and last traded at $9.32. 1,323,500 shares were traded during trading, an increase of 81% from the average session volume of 731,215 shares. The stock had previously closed at $9.90.

A number of research firms recently commented on VRAY. ValuEngine downgraded ViewRay from a “hold” rating to a “sell” rating in a report on Friday. Northland Securities restated a “buy” rating and issued a $10.00 price target on shares of ViewRay in a report on Friday, November 17th. Finally, Mizuho restated a “buy” rating and issued a $12.00 price target on shares of ViewRay in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. ViewRay has an average rating of “Buy” and a consensus price target of $10.60.

The company has a debt-to-equity ratio of -1.67, a current ratio of 1.59 and a quick ratio of 1.20.

ViewRay (NASDAQ:VRAY) last issued its quarterly earnings results on Monday, November 13th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $18.63 million. The firm’s revenue was up 2950.0% compared to the same quarter last year. analysts predict that ViewRay, Inc. will post -0.91 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors lifted its position in shares of ViewRay by 843.2% in the second quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock valued at $107,000 after buying an additional 14,789 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of ViewRay by 5.0% in the second quarter. HighTower Advisors LLC now owns 21,000 shares of the company’s stock valued at $135,000 after buying an additional 1,000 shares during the last quarter. UBS Group AG lifted its position in shares of ViewRay by 447.7% in the first quarter. UBS Group AG now owns 22,479 shares of the company’s stock valued at $192,000 after buying an additional 18,375 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of ViewRay in the second quarter valued at approximately $159,000. Finally, White Pine Capital LLC acquired a new stake in shares of ViewRay in the second quarter valued at approximately $173,000. 50.08% of the stock is owned by hedge funds and other institutional investors.

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About ViewRay

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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