Short Interest in Accolade, Inc. (NASDAQ:ACCD) Decreases By 6.5%

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 3,600,000 shares, a decline of 6.5% from the May 31st total of 3,850,000 shares. Based on an average trading volume of 688,100 shares, the short-interest ratio is presently 5.2 days.

Insider Activity at Accolade

In related news, CAO Colin Mchugh sold 5,543 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total transaction of $36,694.66. Following the transaction, the chief accounting officer now directly owns 50,177 shares in the company, valued at $332,171.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 14,303 shares of company stock worth $100,342 over the last three months. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bellevue Group AG raised its position in shares of Accolade by 6.6% during the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after acquiring an additional 297,110 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Accolade by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after acquiring an additional 2,586 shares during the last quarter. GGV Capital LLC raised its position in shares of Accolade by 242.9% during the 1st quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock valued at $189,000 after acquiring an additional 12,795 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Accolade by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock valued at $56,626,000 after acquiring an additional 77,044 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Accolade during the 1st quarter valued at $360,000. Institutional investors own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

ACCD has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price objective on Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday. Barclays reduced their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a report on Friday. Guggenheim reduced their target price on Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley reduced their target price on Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Truist Financial reduced their target price on Accolade from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.65.

Accolade Stock Down 1.1 %

NASDAQ:ACCD opened at $3.54 on Tuesday. The stock’s fifty day moving average price is $7.09 and its two-hundred day moving average price is $9.66. Accolade has a 52-week low of $3.48 and a 52-week high of $15.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80. The company has a market cap of $283.24 million, a price-to-earnings ratio of -3.05 and a beta of 2.00.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Thursday, June 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.13. The firm had revenue of $110.50 million for the quarter, compared to the consensus estimate of $105.22 million. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.52) EPS. On average, analysts anticipate that Accolade will post -1.23 EPS for the current year.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.