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Wednesday, September 30, 2020

ViewRay Inc. (NASDAQ:VRAY) is Waving the Bull Flag

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The ViewRay Inc. (VRAY) shares are trading at higher $2.45 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $2.83.

To add more color to this target, the company’s high over the last year is $9.76 and the low is $1.11. Over the last 52 weeks, VRAY is down -74.90% while the S&P 500 is up 0.57%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, VRAY reported a profit of $-2.11 million. ViewRay Inc. also saw revenues decrease to $14.25 million. In addition, VRAY has free cash flow of -$35.45 million as of 03-2020. The company’s EBITDA came in at -$28.41 million which compares well with its peers.

VRAY Return on Equity (ROE) is -71.40%, and its Return on Assets is -39.00%. All told, it is clear that, VRAY needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. VRAY has a short ratio of 11.49 and outstanding shares of 147.46M.

Company Outlook

VRAY has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.99 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.02. ViewRay Inc. VRAY also noted assets of $318.74 million at the end of the last quarter. Investors should also keep an eye on sector updates as VRAY has historically followed its peers on positive news.

All told, ViewRay Inc. VRAY has strung together solid data and demonstrated underlying fundamentals. At its current valuation, VRAY represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

ViewRay Inc. VRAY is now commanding a market cap of 367.50M and a float of 109.61M. VRAY is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of VRAY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in VRAY, either long or short, and we have not been compensated for this article.

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