Accolade, Inc. (NASDAQ:ACCD) Sees Significant Increase in Short Interest

Accolade, Inc. (NASDAQ:ACCD) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 5,130,000 shares, an increase of 5.6% from the September 30th total of 4,860,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Accolade during the second quarter worth $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Accolade in the third quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after acquiring an additional 3,789 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Accolade in the first quarter valued at $87,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Accolade by 13.3% in the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after acquiring an additional 3,416 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Accolade Trading Up 0.9 %

Shares of ACCD stock opened at $3.20 on Friday. The stock has a market cap of $257.73 million, a price-to-earnings ratio of -3.11 and a beta of 1.99. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a fifty-two week low of $3.13 and a fifty-two week high of $15.36. The firm’s 50 day moving average price is $3.84 and its two-hundred day moving average price is $5.10.

Accolade (NASDAQ:ACCD) last posted its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same period in the previous year, the company posted ($0.43) earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Accolade will post -0.92 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACCD shares. Barclays lowered their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Stephens lowered their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Truist Financial lowered their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Accolade in a report on Monday, October 7th. Finally, Wells Fargo & Company lowered their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Accolade has an average rating of “Moderate Buy” and a consensus price target of $9.04.

Accolade Company Profile

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.