Short Interest in Accolade, Inc. (NASDAQ:ACCD) Decreases By 13.7%

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 3,140,000 shares, a decline of 13.7% from the November 15th total of 3,640,000 shares. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is presently 2.4 days.

Accolade Stock Up 0.3 %

ACCD stock opened at $3.49 on Friday. The stock’s 50 day moving average is $3.57 and its 200-day moving average is $4.18. Accolade has a twelve month low of $3.08 and a twelve month high of $15.36. The firm has a market capitalization of $281.07 million, a PE ratio of -3.39 and a beta of 2.07. 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 (NASDAQ:ACCD) last released 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. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.43) EPS. Sell-side analysts expect that Accolade will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 42,346 shares of company stock valued at $151,898. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Accolade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACCD. Mission Creek Capital Partners Inc. bought a new stake in shares of Accolade during the 3rd quarter valued at $38,000. SG Americas Securities LLC bought a new stake in shares of Accolade during the second quarter valued at about $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Accolade in the third quarter worth about $46,000. Wolverine Trading LLC bought a new position in shares of Accolade in the third quarter valued at approximately $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Accolade by 22.8% during 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. Institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

ACCD has been the subject of a number of research reports. Canaccord Genuity Group decreased their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Accolade in a report on Monday, October 7th. Stephens reduced their target price 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. Wells Fargo & Company lowered their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Finally, Barclays reduced their price objective on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Accolade currently has a consensus rating of “Moderate Buy” and an average target price 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.