Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Short Interest Down 8.0% in August

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 551,100 shares, a decline of 8.0% from the July 31st total of 599,300 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average trading volume of 65,300 shares, the days-to-cover ratio is currently 8.4 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Accelerate Diagnostics in a report on Monday, August 26th. They issued a “hold” rating for the company.

Institutional Trading of Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,380,654 shares of the medical research company’s stock after buying an additional 26,400 shares during the period. Griffin Asset Management Inc. owned approximately 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent reporting period. 17.14% of the stock is owned by institutional investors.

Accelerate Diagnostics Stock Up 4.6 %

Shares of AXDX stock traded up $0.09 during trading hours on Monday, hitting $2.00. 128,500 shares of the company’s stock traded hands, compared to its average volume of 88,071. The stock’s fifty day simple moving average is $1.39 and its two-hundred day simple moving average is $1.16. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $7.25. The stock has a market cap of $44.07 million, a price-to-earnings ratio of -0.49 and a beta of 0.57.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.05. The company had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.00 million. On average, equities analysts forecast that Accelerate Diagnostics will post -2.14 earnings per share for the current fiscal year.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms.