Accolade, Inc. (NASDAQ:ACCD) Short Interest Down 25.1% in November

Accolade, Inc. (NASDAQ:ACCD) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 3,640,000 shares, a decline of 25.1% from the October 31st total of 4,860,000 shares. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is currently 2.9 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ACCD shares. Barclays reduced their price objective on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Truist Financial decreased their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company cut 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 report on Friday, October 11th. Canaccord Genuity Group lowered their price target on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Stephens dropped their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Accolade presently has a consensus rating of “Moderate Buy” and an average price target of $9.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Clearline Capital LP purchased a new stake in Accolade during the 2nd quarter valued at approximately $2,974,000. Whetstone Capital Advisors LLC bought a new stake in Accolade in the third quarter worth $3,842,000. Cubist Systematic Strategies LLC raised its stake in Accolade by 273.4% during the second quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock valued at $931,000 after purchasing an additional 190,396 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Accolade during the second quarter valued at $1,229,000. Finally, Johnson Financial Group LLC bought a new position in Accolade during the third quarter valued at $1,642,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Accolade Stock Up 2.9 %

Shares of NASDAQ:ACCD opened at $3.86 on Friday. The stock has a fifty day simple moving average of $3.61 and a two-hundred day simple moving average of $4.47. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $310.88 million, a price-to-earnings ratio of -3.75 and a beta of 2.02. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $104.87 million. During the same period last year, the business earned ($0.43) EPS. Accolade’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that Accolade will post -0.92 earnings per share for the current fiscal year.

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.