Accuray Stock Falls On Unusually High Volume (ARAY)

NEW YORK (TheStreet) -- Accuray (Nasdaq:ARAY) is trading at unusually high volume Tuesday with 3.2 million shares changing hands. It is currently at four times its average daily volume and trading down 61 cents (-12.4%) at $4.30 as of 1:56 p.m. ET.

Accuray has a market cap of $306.2 million and is part of the health care sector and health services industry. Shares are down 27.3% year to date as of the close of trading on Monday.

Accuray Incorporated designs, develops, and sells the CyberKnife system, an image-guided robotic radiosurgery system used for the treatment of solid tumors. The company has a P/E ratio of 84.8, equal to the average health services industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Accuray as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and weak operating cash flow. You can view the full Accuray Ratings Report.

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