Accolade, Inc. (NASDAQ:ACCD) Short Interest Update

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 4,860,000 shares, a decline of 5.3% from the October 15th total of 5,130,000 shares. Based on an average daily volume of 1,240,000 shares, the short-interest ratio is presently 3.9 days.

Accolade Trading Down 3.6 %

Shares of NASDAQ ACCD opened at $3.47 on Monday. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a one year low of $3.08 and a one year high of $15.36. The business has a 50-day moving average price of $3.69 and a two-hundred day moving average price of $4.70. The firm has a market capitalization of $279.47 million, a PE ratio of -3.37 and a beta of 2.02.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company cut 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. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Truist Financial decreased their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Canaccord Genuity Group cut their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Stephens reduced their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.04.

Hedge Funds Weigh In On Accolade

Institutional investors and hedge funds have recently modified their holdings of the stock. Mission Creek Capital Partners Inc. acquired a new stake in shares of Accolade during the 3rd quarter valued at about $38,000. SG Americas Securities LLC acquired a new stake in Accolade in the second quarter valued at approximately $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Accolade in the third quarter worth approximately $46,000. Wolverine Trading LLC acquired a new position in shares of Accolade during the 3rd quarter worth $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after purchasing an additional 3,789 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

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.