Accelevation (NASDAQ:ACCV) Shares Up 15.7% – Here’s Why

Shares of Accelevation Holdings Corp. (NASDAQ:ACCV) traded up 15.7% during trading on Wednesday. The stock traded as high as $12.54 and last traded at $12.36. 340,082 shares traded hands during trading, a decline of 82% from the average session volume of 1,903,406 shares. The stock had previously closed at $10.68.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ACCV. Barclays initiated coverage on shares of Accelevation in a report on Monday, October 26th. They issued an “overweight” rating and a $20.00 price target on the stock. William Blair set a $20.00 price objective on shares of Accelevation in a research note on Monday, October 26th. Bank of America assumed coverage on shares of Accelevation in a research note on Monday, October 26th. They issued a “buy” rating and a $20.00 target price for the company. Zacks Research assumed coverage on shares of Accelevation in a report on Tuesday, October 27th. They issued a “hold” rating on the stock. Finally, Wall Street Zen raised Accelevation to a “hold” rating in a research report on Saturday, October 10th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.43.

Accelevation Stock Performance

Insider Buying and Selling at Accelevation

In related news, COO Brent C. Jewell acquired 2,500 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were purchased at an average cost of $18.00 per share, with a total value of $45,000.00. Following the completion of the acquisition, the chief operating officer directly owned 304,068 shares of the company’s stock, valued at $5,473,224. This represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ginger M. Jones bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $180,000.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $180,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 227,700 shares of company stock worth $4,098,600 in the last three months.

Accelevation Company Profile

Accelevation Holdings Corp. designs, manufactures and installs customized structural, electrical and mechanical systems for mission-critical infrastructure. The company primarily serves data centers, including facilities supporting artificial intelligence, cloud computing, hyperscale computing and other high-density technology applications. The company’s products and solutions include power distribution equipment, modular infrastructure systems, structural support components, thermal management products and related electrical systems.