Accolade, Inc. (NASDAQ:ACCD) Short Interest Update

Accolade, Inc. (NASDAQ:ACCD) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 4,530,000 shares, a growth of 6.8% from the August 31st total of 4,240,000 shares. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 2.9 days.

Institutional Investors Weigh In On Accolade

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Accolade during the 2nd quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after acquiring an additional 3,789 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Accolade during the 1st quarter valued at $87,000. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 acquiring an additional 3,416 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Accolade during the 2nd quarter valued at $150,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ACCD shares. Canaccord Genuity Group cut their target price on shares of Accolade from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Truist Financial cut their price objective on Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Barclays decreased their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Morgan Stanley cut their price target on Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Accolade in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.65.

Accolade Price Performance

Accolade stock opened at $3.86 on Monday. The stock’s fifty day moving average price is $4.03 and its two-hundred day moving average price is $6.10. Accolade has a one year low of $3.35 and a one year high of $15.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a market cap of $308.83 million, a PE ratio of -3.33 and a beta of 2.00.

Accolade (NASDAQ:ACCD) last issued its earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.13. The firm had revenue of $110.50 million for the quarter, compared to the consensus estimate of $105.22 million. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.52) EPS. As a group, research analysts expect that Accolade will post -1.11 EPS for the current fiscal 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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.