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

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a large decrease in short interest in 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 presently 3.9 days.

Hedge Funds Weigh In On Accolade

Large investors have recently made changes to their positions in the company. Mission Creek Capital Partners Inc. bought a new stake in Accolade during the 3rd quarter worth about $38,000. SG Americas Securities LLC acquired a new stake in shares of Accolade during the 2nd quarter worth approximately $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Accolade during the third quarter worth approximately $46,000. Wolverine Trading LLC bought a new position in Accolade in the third quarter valued at approximately $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. Institutional investors and hedge funds own 84.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Accolade in a report on Monday, October 7th. Truist Financial dropped their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group cut 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. Finally, Barclays decreased their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Accolade has an average rating of “Moderate Buy” and a consensus price target of $9.04.

Accolade Stock Down 3.6 %

Shares of ACCD opened at $3.47 on Monday. The company has a market capitalization of $279.47 million, a P/E ratio of -3.37 and a beta of 2.02. Accolade has a one year low of $3.08 and a one year high of $15.36. The business’s 50 day simple moving average is $3.69 and its 200-day simple moving average is $4.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72.

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

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.