Short Interest in Accolade, Inc. (NASDAQ:ACCD) Declines By 5.3%

Accolade, Inc. (NASDAQ:ACCD) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 4,860,000 shares, a decrease of 5.3% from the October 15th total of 5,130,000 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 3.9 days.

Accolade Stock Down 2.6 %

Shares of ACCD opened at $3.38 on Tuesday. Accolade has a 52 week low of $3.08 and a 52 week high of $15.36. The stock has a market capitalization of $272.23 million, a price-to-earnings ratio of -3.37 and a beta of 2.02. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The stock has a fifty day moving average of $3.69 and a 200-day moving average of $4.69.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. The business had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. Accolade’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned ($0.43) EPS. As a group, sell-side analysts anticipate that Accolade will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACCD has been the topic of a number of analyst reports. Truist Financial reduced their price target on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of Accolade in a research report on Monday, October 7th. Stephens reduced their price target on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Canaccord Genuity Group reduced their price target on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Barclays cut their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.04.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACCD. Mission Creek Capital Partners Inc. bought a new position in Accolade during the 3rd quarter worth $38,000. SG Americas Securities LLC acquired a new stake in Accolade during the 2nd quarter worth about $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Accolade during the 3rd quarter worth about $46,000. Wolverine Trading LLC acquired a new stake in Accolade during the 3rd quarter worth about $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after acquiring an additional 3,789 shares during the period. 84.99% of the stock is owned by institutional investors.

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.