Short Interest in Accolade, Inc. (NASDAQ:ACCD) Increases By 30.1%

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,030,000 shares, an increase of 30.1% from the February 28th total of 1,560,000 shares. Based on an average daily trading volume, of 2,030,000 shares, the short-interest ratio is currently 1.0 days. Approximately 2.7% of the shares of the company are sold short.

Accolade Trading Down 0.1 %

Accolade stock opened at $6.98 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63. Accolade has a 1 year low of $3.08 and a 1 year high of $10.45. The firm’s 50-day moving average is $6.94 and its 200-day moving average is $4.99. The company has a market cap of $572.31 million, a P/E ratio of -3.10 and a beta of 2.18.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. On average, equities analysts expect that Accolade will post -1.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Leerink Partners reissued a “market perform” rating on shares of Accolade in a report on Wednesday, January 8th. Piper Sandler downgraded Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Truist Financial cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.03 price objective (down from $8.00) on shares of Accolade in a research note on Thursday, January 9th. Finally, Raymond James reissued a “market perform” rating on shares of Accolade in a research note on Thursday, January 9th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Accolade currently has a consensus rating of “Hold” and a consensus target price of $6.51.

Institutional Investors Weigh In On Accolade

Institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in shares of Accolade during the 3rd quarter valued at $96,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Accolade by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 569,201 shares of the company’s stock worth $2,191,000 after buying an additional 26,155 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in Accolade by 1,144.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after buying an additional 19,232 shares during the last quarter. Clearline Capital LP raised its holdings in Accolade by 85.3% in the 3rd quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after acquiring an additional 708,794 shares during the period. Finally, Centiva Capital LP lifted its position in Accolade by 5.8% during the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock worth $230,000 after acquiring an additional 3,264 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

About Accolade

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.