ViewRay Inc. (NASDAQ:VRAY) closed Wednesday at $3.23 per share, down from $3.26 a day earlier. While ViewRay Inc. has underperformed by -0.92%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VRAY fell by -20.25%, with highs and lows ranging from $4.96 to $2.39, whereas the simple moving average fell by -17.45% in the last 200 days.
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On January 25, 2022, Stifel started tracking ViewRay Inc. (NASDAQ: VRAY) recommending Buy. A report published by B. Riley Securities on January 11, 2022, Upgraded its rating to ‘Buy’ for VRAY. B. Riley Securities also rated VRAY shares as ‘Neutral’, setting a target price of $7 on the company’s shares in an initiating report dated October 14, 2021. Guggenheim May 07, 2021d its ‘Neutral’ rating to ‘Buy’ for VRAY, as published in its report on May 07, 2021. BTIG Research’s report from March 26, 2021 suggests a price prediction of $7 for VRAY shares, giving the stock a ‘Buy’ rating. B. Riley Securities also rated the stock as ‘Buy’.
Analysis of ViewRay Inc. (VRAY)
Further, the quarter-over-quarter increase in sales is 70.10%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of ViewRay Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -93.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and VRAY is recording an average volume of 1.09M. On a monthly basis, the volatility of the stock is set at 4.35%, whereas on a weekly basis, it is put at 4.06%, with a loss of -2.12% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.12, showing growth from the present price of $3.23, which can serve as yet another indication of whether VRAY is worth investing in or should be passed over.
How Do You Analyze ViewRay Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.70%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 86.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in VRAY shares?
The recent increase in stakes in VRAY appears to be a result of several institutional investors and hedge funds increasing their positions. Artisan Partners LP’s position in VRAY has decreased by -3.27% in the first quarter. The company now owns 16,678,616 shares of the stock, with a value of $72.05 million, following the sale of -564,302 additional shares during the last quarter. During the last quarter, the company dropped down 0 additional shares for a total stake of worth $68.05 million, bringing number of shares owned by the company to 15,752,093.
During the first quarter, Pura Vida Investments LLC subtracted a -1,115,930 position in VRAY. Neuberger Berman Investment Advis purchased an additional 0.74 million shares in the last quarter, increasing its holdings by 8.09%, now holding 9.86 million shares worth $42.61 million. At the end of the first quarter, The Vanguard Group, Inc. increased its VRAY holdings by 2.38% and now holds 9.78 million VRAY shares valued at $42.25 million with the added 0.23 million shares during the period. VRAY shares are owned by institutional investors to the tune of 86.20% at present.
