Short Interest in Accolade, Inc. (NASDAQ:ACCD) Grows By 10.3%

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 3,430,000 shares, a growth of 10.3% from the December 15th total of 3,110,000 shares. Based on an average daily trading volume, of 1,790,000 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

ACCD has been the topic of several recent research reports. Leerink Partners reiterated a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Stephens cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. William Blair cut Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Finally, Barclays decreased their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.55.

Accolade Trading Up 0.4 %

NASDAQ:ACCD opened at $6.89 on Monday. The firm has a market cap of $554.92 million, a price-to-earnings ratio of -3.06 and a beta of 2.08. Accolade has a 12 month low of $3.08 and a 12 month high of $13.93. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $4.08 and its 200-day moving average is $3.90.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Equities analysts anticipate that Accolade will post -0.92 EPS for the current year.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 41,298 shares of company stock worth $149,987 over the last quarter. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accolade

Large investors have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in shares of Accolade by 244.7% in the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after buying an additional 1,862,178 shares during the last quarter. Geode Capital Management LLC lifted its stake in Accolade by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after buying an additional 83,556 shares during the period. Clearline Capital LP boosted its stake in Accolade by 85.3% during 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 last quarter. Whetstone Capital Advisors LLC bought a new stake in shares of Accolade in the 3rd quarter valued at $3,842,000. Finally, Point72 Asset Management L.P. bought a new position in Accolade during the third quarter worth about $2,378,000. 84.99% of the stock is currently owned by institutional investors.

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.