Accolade, Inc. (NASDAQ:ACCD) Short Interest Down 13.7% in November

Accolade, Inc. (NASDAQ:ACCD) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 3,140,000 shares, a drop of 13.7% from the November 15th total of 3,640,000 shares. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

ACCD has been the topic of several recent analyst reports. Stephens lowered their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Truist Financial lowered their price target on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Barclays cut their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Finally, Canaccord Genuity Group decreased their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.04.

Accolade Trading Up 0.3 %

Shares of ACCD stock opened at $3.49 on Monday. The stock has a market cap of $281.07 million, a P/E ratio of -3.39 and a beta of 2.07. Accolade has a 1 year low of $3.08 and a 1 year high of $15.36. 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 stock has a 50 day simple moving average of $3.57 and a 200 day simple moving average of $4.16.

Accolade (NASDAQ:ACCD) last released its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The firm had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same period in the prior year, the company posted ($0.43) EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 42,346 shares of company stock valued at $151,898 in the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accolade

Hedge funds have recently bought and sold shares of the company. Mission Creek Capital Partners Inc. acquired a new stake in shares of Accolade during the 3rd quarter worth approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Accolade in the third quarter worth about $46,000. SG Americas Securities LLC acquired a new stake in shares of Accolade in the 2nd quarter valued at approximately $43,000. Wolverine Trading LLC bought a new stake in shares of Accolade during the 3rd quarter valued at approximately $51,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after purchasing an additional 2,586 shares during the last quarter. 84.99% of the stock is owned by institutional investors.

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.