ARAY
Accuray Incorporated Healthcare - Medical Devices Investor Relations →
Accuray Incorporated (ARAY) closed at $0.23 as of 2026-09-18, trading 87.6% below its 200-week moving average of $1.89. This places ARAY in the extreme value zone. The stock is currently moving closer to the line, down from -86.8% last week. The 14-week RSI sits at 30, indicating neutral momentum.
Trading activity has gone quiet — just 0.5x of its usual 14-week average. But the buying that is happening outweighs the selling (1.56 buyers-vs-sellers ratio). When volume dries up but buyers are still showing up more than sellers, it can mean the worst of the selling is over and the stock is quietly building a floor.
Over the past 975 weeks of data, ARAY has crossed below its 200-week moving average 20 times. On average, these episodes lasted 38 weeks. The average one-year return after crossing below was -13.8%, suggesting these dips have not historically been reliable buying opportunities for this stock.
With a market cap of $28 million, ARAY is a small-cap stock. The company generates a free cash flow yield of 37.9%, which is notably high. Return on equity stands at -80.1%. The stock trades at 0.7x book value.
Share count has increased 23.7% over three years, indicating dilution. This stock also meets the Yartseva multibagger criteria as a small-cap with strong free cash flow yield and reasonable book value.
Over the past 18.8 years, a hypothetical investment of $100 in ARAY would have grown to $2, compared to $780 for the S&P 500. ARAY has returned -18.3% annualized vs 11.6% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -100% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: ARAY vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After ARAY Crosses Below the Line?
Across 20 historical episodes, buying ARAY when it crossed below its 200-week moving average produced an average return of -13.7% after 12 months (median -13.0%), compared to +7.3% for the S&P 500 over the same periods. 30% of those episodes were profitable after one year. After 24 months, the average return was -7.3% vs +29.3% for the index.
Each line shows $100 invested at the moment ARAY crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Bean Score Experimental
The Bean Score measures how far a stock's free cash flow yield has deviated from its own quarterly baseline, normalized by the stock's historical behavior. ARAY currently has negative free cash flow, so price-based dislocation levels are not available. The score still tracks yield deviation from baseline.
Quarterly FCF & Yield Trailing twelve-month free cash flow and yield at each quarter end
Recent Earnings
| Date | EPS Est. | EPS Actual | Surprise |
|---|---|---|---|
| 2026-05-06 | $-0.05 | $-0.07 | -35.6% |
| 2026-02-04 | $-0.11 | $-0.11 | +2.2% |
| 2025-11-05 | $-0.05 | $-0.14 | -178.4% |
Signal Accuracy Collecting Data
The Bean Score system is accumulating weekly data to validate signal accuracy. After 13+ weeks of history, this section will display win rates and average returns for each σ threshold crossing — answering the question: "When this score says cheap or expensive, does the price subsequently move in the expected direction?"
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Theoretical framework — not backtested or forward-tested. The Bean Score uses trailing twelve-month free cash flow yield as a dislocation identifier. It measures whether the market has pushed a stock's yield unusually far from its own baseline behavior. These levels are analysis points: prices at which the yield deviation becomes unusual enough to justify the work. FCF values update quarterly with earnings; between reports, all movement is price-driven.
Dislocation Scores Experimental
Each score measures deviation from ARAY's own historical baseline — the same idea as the Bean Score, applied to different fundamentals. Positive means cheaper or more dislocated than this stock's norm. Scores marked σ are normalized by the stock's own variability; pp values are simple deltas from its recent baseline.
Theoretical framework — not backtested. These scores describe how unusual today's readings are for this specific company. Each one is an analysis point, a reason to open the filings. Annual-statement scores (buyback, accruals, FCF vs history) rest on only ~4 yearly data points and are deltas, not sigmas.
Historical Touches
ARAY has crossed below its 200-week MA 20 times with an average 1-year return of +-13.8% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Jan 2008 | Jan 2011 | 159 | 71.2% | -67.2% | -98.6% |
| May 2011 | Jun 2011 | 8 | 10.6% | -11.4% | -97.1% |
| Jul 2011 | Feb 2012 | 28 | 48.9% | -6.4% | -96.6% |
| Feb 2012 | Mar 2012 | 1 | 0.3% | -35.3% | -96.4% |
| May 2012 | Jun 2012 | 5 | 7.3% | -11.6% | -96.1% |
| Jul 2012 | Jul 2012 | 1 | 0.1% | -10.6% | -96.3% |
| Jul 2012 | Aug 2012 | 1 | 0.6% | +0.6% | -96.3% |
| Aug 2012 | Sep 2012 | 4 | 7.8% | +4.0% | -96.1% |
| Nov 2012 | Dec 2012 | 4 | 3.1% | +32.4% | -96.3% |
| Dec 2012 | Aug 2013 | 34 | 34.7% | +37.4% | -96.3% |
| Oct 2014 | Nov 2014 | 2 | 7.9% | +5.8% | -96.3% |
| Dec 2014 | Dec 2014 | 1 | 1.2% | +0.6% | -96.5% |
| May 2015 | Jun 2015 | 5 | 9.0% | -21.6% | -96.4% |
| Jun 2015 | Nov 2015 | 18 | 23.9% | -24.6% | -96.6% |
| Nov 2015 | Feb 2019 | 170 | 40.8% | -22.1% | -96.6% |
| Mar 2019 | Nov 2020 | 89 | 64.1% | -41.5% | -95.1% |
| Aug 2021 | Aug 2021 | 2 | 5.5% | -26.6% | -93.6% |
| Sep 2021 | Sep 2021 | 2 | 4.9% | -35.0% | -93.6% |
| Jan 2022 | Apr 2023 | 65 | 51.0% | -28.5% | -93.3% |
| Aug 2023 | Ongoing | 163+ | 87.9% | Ongoing | -92.4% |
| Average | 38 | — | +-13.8% | — |
Frequently Asked Questions
Is ARAY below its 200-week moving average?
Yes. As of 2026-09-18, Accuray Incorporated (ARAY) is trading 87.6% below its 200-week moving average of $1.89. The current price is $0.23.
What is ARAY's 200-week moving average price?
Accuray Incorporated's 200-week moving average is $1.89 as of 2026-09-18. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when ARAY drops below its 200-week moving average?
ARAY has crossed below its 200-week moving average 20 times in our data. The average one-year return after these crossings was -13.8%, meaning the dips were not reliable buying signals for this particular stock. These episodes lasted 38 weeks on average.
Is ARAY a good value right now?
Here's what our data says about ARAY as of 2026-09-18: The stock is below its 200-week moving average, which is the starting point for our analysis. The 14-week RSI is 30. Free cash flow yield is 37.9%. Return on equity is -80.1%. Price-to-book is 0.7x. This is not a buy or sell recommendation — always do your own research.
How does ARAY compare to the S&P 500?
Over the past 18.8 years, $100 invested in ARAY would have grown to $2, compared to $780 for the S&P 500. That's -18.3% annualized vs 11.6% for the index. ARAY has underperformed the broader market over this period.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-09-18