Accolade, Inc. (NASDAQ:ACCD) Sees Significant Growth in Short Interest

Accolade, Inc. (NASDAQ:ACCD) was the target 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 volume of 1,790,000 shares, the short-interest ratio is presently 1.9 days.

Insider Activity

In other news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value 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 $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 41,298 shares of company stock worth $149,987 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its stake 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 acquiring an additional 1,862,178 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 83,556 shares in the last quarter. Clearline Capital LP raised its stake in shares of Accolade by 85.3% in the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock valued at $5,927,000 after acquiring an additional 708,794 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new stake in shares of Accolade in the third quarter valued at $3,842,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Accolade in the third quarter valued at $2,378,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Accolade Stock Up 0.4 %

NASDAQ:ACCD opened at $6.89 on Friday. 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 stock’s fifty day moving average is $4.08 and its two-hundred day moving average is $3.90. Accolade has a 52 week low of $3.08 and a 52 week high of $13.93. The stock has a market capitalization of $562.13 million, a price-to-earnings ratio of -3.06 and a beta of 2.08.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ACCD shares. Wells Fargo & Company dropped their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Canaccord Genuity Group reiterated a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Morgan Stanley decreased their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Leerink Partners reiterated a “market perform” rating on shares of Accolade in a report on Wednesday, January 8th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Accolade presently has a consensus rating of “Hold” and a consensus target price of $7.55.

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.