Accolade, Inc. (NASDAQ:ACCD) Short Interest Down 15.0% in January

Accolade, Inc. (NASDAQ:ACCD) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 2,830,000 shares, a decline of 15.0% from the January 15th total of 3,330,000 shares. Based on an average daily trading volume, of 2,010,000 shares, the short-interest ratio is presently 1.4 days.

Accolade Price Performance

ACCD opened at $6.90 on Friday. Accolade has a 1 year low of $3.08 and a 1 year high of $13.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63. The company has a market capitalization of $562.97 million, a price-to-earnings ratio of -3.07 and a beta of 2.20. The firm’s fifty day moving average price is $5.38 and its two-hundred day moving average price is $4.35.

Accolade (NASDAQ:ACCD) last announced its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. As a group, analysts anticipate that Accolade will post -1.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Stephens restated an “equal weight” rating and set a $7.03 target price on shares of Accolade in a research note on Wednesday. Truist Financial lowered Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Needham & Company LLC restated a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Finally, Leerink Partners reiterated a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Accolade presently has an average rating of “Hold” and an average target price of $7.46.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 41,127 shares of company stock worth $164,674. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

A number of large investors have recently bought and sold shares of ACCD. Mission Creek Capital Partners Inc. purchased a new stake in Accolade during the third quarter valued at about $38,000. Pallas Capital Advisors LLC purchased a new stake in shares of Accolade during the 4th quarter valued at approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Accolade in the 3rd quarter worth approximately $46,000. Boothbay Fund Management LLC purchased a new position in Accolade in the 4th quarter valued at approximately $43,000. Finally, Wolverine Trading LLC purchased a new position in Accolade in the 3rd quarter valued at approximately $51,000. 84.99% of the stock is owned by hedge funds and other 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.