Accolade, Inc. (NASDAQ:ACCD) Short Interest Up 10.3% in January

Accolade, Inc. (NASDAQ:ACCD) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 3,430,000 shares, an increase of 10.3% from the December 31st total of 3,110,000 shares. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is currently 1.9 days.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group restated a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Leerink Partners restated a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Finally, Morgan Stanley reduced their price target 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. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accolade presently has an average rating of “Hold” and an average price target of $7.55.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This represents 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 at the SEC website. Insiders sold a total of 38,685 shares of company stock valued at $144,164 over the last ninety days. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its holdings in Accolade by 1.7% during the 4th quarter. Rhumbline Advisers now owns 115,136 shares of the company’s stock valued at $394,000 after purchasing an additional 1,967 shares during the last quarter. Centiva Capital LP lifted its holdings in Accolade by 5.8% during the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock valued at $230,000 after purchasing an additional 3,264 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Accolade by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after purchasing an additional 3,416 shares during the last quarter. Mission Creek Capital Partners Inc. bought a new position in Accolade during the 3rd quarter valued at about $38,000. Finally, Inspire Investing LLC lifted its holdings in Accolade by 9.9% during the 4th quarter. Inspire Investing LLC now owns 117,216 shares of the company’s stock valued at $401,000 after purchasing an additional 10,537 shares during the last quarter. 84.99% of the stock is owned by institutional investors.

Accolade Stock Performance

NASDAQ:ACCD opened at $6.89 on Monday. Accolade has a 1 year low of $3.08 and a 1 year high of $13.93. The firm’s fifty day simple moving average is $4.74 and its 200 day simple moving average is $4.14. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $562.16 million, a PE ratio of -3.06 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. On average, sell-side analysts anticipate that Accolade will post -1.2 EPS for the current year.

About Accolade

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.