Short Interest in Accolade, Inc. (NASDAQ:ACCD) Rises By 6.8%

Accolade, Inc. (NASDAQ:ACCD) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 4,530,000 shares, an increase of 6.8% from the August 31st total of 4,240,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays reduced their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Guggenheim lowered their price objective on shares of Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Truist Financial decreased their price target on Accolade from $14.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price on shares of Accolade in a report on Monday, June 24th. Finally, Stifel Nicolaus decreased their price target on Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACCD. ARK Investment Management LLC boosted its holdings in shares of Accolade by 0.5% in the 2nd quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock worth $20,196,000 after purchasing an additional 28,405 shares in the last quarter. Vanguard Group Inc. grew its position in Accolade by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock valued at $56,626,000 after acquiring an additional 77,044 shares during the last quarter. Bellevue Group AG raised its stake in shares of Accolade by 6.6% during the first quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock worth $50,351,000 after acquiring an additional 297,110 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Accolade by 244.7% in the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after acquiring an additional 1,862,178 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Accolade by 18.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock valued at $7,203,000 after purchasing an additional 314,371 shares in the last quarter. 84.99% of the stock is owned by institutional investors.

Accolade Stock Down 2.6 %

Accolade stock opened at $3.75 on Wednesday. The stock has a market cap of $300.03 million, a PE ratio of -3.23 and a beta of 2.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80. The firm’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $6.00. Accolade has a fifty-two week low of $3.35 and a fifty-two week high of $15.36.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.