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

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

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 41,947 shares of company stock worth $154,439 in the last ninety days. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Accolade

A number of large investors have recently modified their holdings of ACCD. Mission Creek Capital Partners Inc. acquired a new stake in Accolade in the 3rd quarter worth approximately $38,000. Pallas Capital Advisors LLC acquired a new stake in shares of Accolade during the fourth quarter worth $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Accolade during the third quarter valued at $46,000. Wolverine Trading LLC purchased a new stake in shares of Accolade during the third quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Accolade by 1,144.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after acquiring an additional 19,232 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Accolade Stock Up 0.1 %

NASDAQ:ACCD opened at $6.89 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63. The stock has a market capitalization of $562.16 million, a P/E ratio of -3.06 and a beta of 2.08. The company’s 50-day simple moving average is $4.68 and its 200-day simple moving average is $4.11. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $13.93.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results 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 40.36% and a negative return on equity of 20.74%. On average, equities analysts anticipate that Accolade will post -1.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ACCD shares. Truist Financial lowered Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. William Blair cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Morgan Stanley lowered their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Canaccord Genuity Group reissued a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Finally, Barclays decreased their target price 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. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Accolade has an average rating of “Hold” and a consensus price target of $7.55.

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.