Accelevation (NASDAQ:ACCV) Posts Earnings Results, Beats Expectations By $0.12 EPS

Accelevation (NASDAQ:ACCV) released its quarterly earnings results on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12, Zacks reports.

Accelevation Stock Performance

Shares of ACCV stock traded up $0.30 during trading hours on Thursday, reaching $12.21. The stock had a trading volume of 1,249,427 shares, compared to its average volume of 1,922,189. Accelevation has a 12 month low of $9.54 and a 12 month high of $18.10.

Insider Activity

In other Accelevation news, COO Brent Jewell bought 2,500 shares of Accelevation 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ginger Jones purchased 10,000 shares of Accelevation stock in a transaction dated Thursday, October 1st. The stock was bought at an average price of $18.00 per share, with a total value of $180,000.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $180,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 227,700 shares of company stock valued at $4,098,600.

Analyst Ratings Changes

A number of brokerages recently issued reports on ACCV. Zacks Research assumed coverage on shares of Accelevation in a report on Tuesday, October 27th. They set a “hold” rating for the company. Wolfe Research assumed coverage on shares of Accelevation in a report on Monday, October 26th. They issued an “outperform” rating on the stock. William Blair set a $20.00 price objective on Accelevation in a research report on Monday, October 26th. Bank of America began coverage on Accelevation in a research report on Monday, October 26th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Robert W. Baird initiated coverage on Accelevation in a report on Monday, October 26th. They issued an “outperform” rating and a $16.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Accelevation presently has an average rating of “Moderate Buy” and a consensus price target of $19.43.

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.