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

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,430,000 shares, an increase 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 days-to-cover ratio is presently 1.9 days.

Accolade Price Performance

ACCD stock opened at $6.89 on Friday. 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 company has a market capitalization of $554.92 million, a PE 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 business’s fifty day moving average price is $4.08 and its 200 day moving average price is $3.90.

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

Analyst Upgrades and Downgrades

Several analysts have commented on ACCD shares. Wells Fargo & Company dropped their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. William Blair lowered Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Finally, Barclays lowered their price objective on 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.55.

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the transaction, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 41,298 shares of company stock worth $149,987 over the last three months. 8.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Accolade

Several large investors have recently bought and sold shares of the stock. Millennium Management LLC increased its holdings in Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after purchasing an additional 1,862,178 shares during the period. Geode Capital Management LLC increased its holdings in Accolade by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock worth $6,862,000 after purchasing an additional 83,556 shares during the period. Clearline Capital LP increased its holdings 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 purchasing an additional 708,794 shares during the period. Whetstone Capital Advisors LLC purchased a new stake in Accolade during the 3rd quarter worth about $3,842,000. Finally, Point72 Asset Management L.P. purchased a new stake in Accolade during the 3rd quarter worth about $2,378,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.