ViewRay, Inc. (NASDAQ:VRAY)’s stock price dropped 3% on Friday . The company traded as low as $4.80 and last traded at $4.85. Approximately 14,961 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 1,109,419 shares. The stock had previously closed at $5.00.
VRAY has been the subject of a number of analyst reports. Zacks Investment Research raised ViewRay from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research report on Friday. B. Riley began coverage on ViewRay in a research report on Thursday, October 14th. They set a “neutral” rating for the company. Finally, Piper Sandler boosted their price objective on ViewRay from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, November 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $7.31.
The company has a debt-to-equity ratio of 0.49, a current ratio of 3.72 and a quick ratio of 3.08. The stock has a market capitalization of $775.93 million, a P/E ratio of -6.83 and a beta of 0.81. The firm has a 50 day moving average of $5.76 and a 200-day moving average of $6.12.
ViewRay (NASDAQ:VRAY) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. ViewRay had a negative return on equity of 79.12% and a negative net margin of 159.97%. The firm had revenue of $19.18 million for the quarter, compared to analyst estimates of $17.05 million. During the same period in the previous year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was up 90.1% compared to the same quarter last year. As a group, equities analysts expect that ViewRay, Inc. will post -0.67 earnings per share for the current year.
In related news, major shareholder Influence Ltd Strong sold 4,000,000 shares of the business’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $7.02, for a total transaction of $28,080,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Scott William Drake acquired 89,285 shares of the stock in a transaction dated Friday, November 19th. The stock was bought at an average price of $5.60 per share, for a total transaction of $499,996.00. The disclosure for this purchase can be found here. Insiders own 4.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in VRAY. Advisor Group Holdings Inc. grew its stake in shares of ViewRay by 195.8% in the 2nd quarter. Advisor Group Holdings Inc. now owns 9,489 shares of the company’s stock valued at $63,000 after purchasing an additional 6,281 shares during the period. New York State Common Retirement Fund grew its stake in shares of ViewRay by 23.7% in the 2nd quarter. New York State Common Retirement Fund now owns 117,717 shares of the company’s stock valued at $777,000 after purchasing an additional 22,585 shares during the period. Arizona State Retirement System grew its stake in shares of ViewRay by 16.3% in the 2nd quarter. Arizona State Retirement System now owns 32,692 shares of the company’s stock valued at $216,000 after purchasing an additional 4,594 shares during the period. Teacher Retirement System of Texas grew its stake in shares of ViewRay by 17.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,599 shares of the company’s stock valued at $83,000 after purchasing an additional 1,890 shares during the period. Finally, Swiss National Bank grew its stake in shares of ViewRay by 20.2% in the 2nd quarter. Swiss National Bank now owns 265,100 shares of the company’s stock valued at $1,750,000 after purchasing an additional 44,600 shares during the period. Institutional investors own 90.60% of the company’s stock.
About ViewRay (NASDAQ:VRAY)
ViewRay, Inc designs, manufactures and markets magnetic resonance imaging (MRI) system. It develops MRIdian to address the limitations of existing external-beam radiation therapy technologies, and employs MRI-based technology to provide real-time imaging that defines the tumor from the surrounding soft tissue, and other critical organs, both before and during radiation treatment delivery.
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