Short Interest in Accolade, Inc. (NASDAQ:ACCD) Rises By 5.6%

Accolade, Inc. (NASDAQ:ACCD) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 5,130,000 shares, an increase of 5.6% from the September 30th total of 4,860,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is currently 4.3 days.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped 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 note on Friday, October 11th. Barclays dropped their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Canaccord Genuity Group lowered their price objective on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Truist Financial lowered their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Stephens lowered their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Accolade has a consensus rating of “Moderate Buy” and an average price target of $9.04.

Institutional Investors Weigh In On Accolade

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Accolade in the 1st quarter valued at $87,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Accolade in the 3rd quarter valued at $46,000. SG Americas Securities LLC acquired a new stake in shares of Accolade in the 2nd quarter valued at $43,000. GGV Capital LLC raised its holdings in shares of Accolade by 242.9% in the 1st quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock valued at $189,000 after purchasing an additional 12,795 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of 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 in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Accolade Stock Performance

Shares of ACCD stock opened at $3.17 on Friday. The company has a quick ratio of 2.80, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a 52 week low of $3.13 and a 52 week high of $15.36. The stock has a market capitalization of $255.30 million, a PE ratio of -3.08 and a beta of 1.99. The firm has a 50 day moving average of $3.87 and a two-hundred day moving average of $5.13.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter last year, the company posted ($0.43) EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that Accolade will post -1.09 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 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.