Accolade, Inc. (NASDAQ:ACCD) Sees Significant Growth in Short Interest

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a large 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 trading volume, of 1,790,000 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ACCD. William Blair cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Morgan Stanley decreased their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Leerink Partners reissued a “market perform” rating on shares of Accolade in a report on Wednesday, January 8th. Finally, Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.55.

Accolade Price Performance

Shares of Accolade stock opened at $6.89 on Friday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a twelve month low of $3.08 and a twelve month high of $13.93. The business has a 50-day moving average price of $4.08 and a 200 day moving average price of $3.90. The firm has a market cap of $562.13 million, a PE ratio of -3.06 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share 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%. Sell-side analysts predict that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction dated 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 sale, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 41,298 shares of company stock worth $149,987 in the last ninety days. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Accolade

Large investors have recently bought and sold shares of the company. Whetstone Capital Advisors LLC purchased a new stake in Accolade during the 3rd quarter worth approximately $3,842,000. Clearline Capital LP purchased a new stake in Accolade during the 2nd quarter worth approximately $2,974,000. Cubist Systematic Strategies LLC increased its stake in Accolade by 273.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock worth $931,000 after buying an additional 190,396 shares in the last quarter. Johnson Financial Group LLC purchased a new stake in Accolade during the 3rd quarter worth approximately $1,642,000. Finally, Algert Global LLC increased its stake in Accolade by 153.5% during the 2nd quarter. Algert Global LLC now owns 354,119 shares of the company’s stock worth $1,268,000 after buying an additional 214,441 shares in the last quarter. 84.99% of the stock is currently 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.