Accolade, Inc. (NASDAQ:ACCD) Sees Significant Increase in Short Interest

Accolade, Inc. (NASDAQ:ACCD) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,030,000 shares, an increase of 30.1% from the February 28th total of 1,560,000 shares. Currently, 2.7% of the company’s shares are short sold. Based on an average daily volume of 2,030,000 shares, the short-interest ratio is presently 1.0 days.

Analysts Set New Price Targets

ACCD has been the topic of a number of research analyst reports. Truist Financial downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Leerink Partnrs downgraded Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Stephens reiterated an “equal weight” rating and issued a $7.03 target price on shares of Accolade in a research note on Wednesday, February 12th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Finally, Piper Sandler downgraded Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Accolade has an average rating of “Hold” and an average price target of $6.51.

Accolade Trading Down 0.1 %

ACCD opened at $6.98 on Tuesday. The stock has a fifty day moving average price of $6.94 and a 200-day moving average price of $4.99. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. Accolade has a 12 month low of $3.08 and a 12 month high of $10.45. The firm has a market cap of $572.31 million, a price-to-earnings ratio of -3.10 and a beta of 2.18.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. As a group, equities research analysts anticipate that Accolade will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accolade

A number of large investors have recently made changes to their positions in ACCD. Nisa Investment Advisors LLC raised its position in Accolade by 15,113.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 55,680 shares of the company’s stock valued at $190,000 after purchasing an additional 55,314 shares during the period. Point72 Asset Management L.P. purchased a new position in Accolade during the 3rd quarter worth approximately $2,378,000. Barclays PLC boosted its holdings in shares of Accolade by 164.4% in the third quarter. Barclays PLC now owns 139,901 shares of the company’s stock valued at $539,000 after acquiring an additional 86,981 shares during the period. Stifel Financial Corp raised its position in Accolade by 20.8% in the 3rd quarter. Stifel Financial Corp now owns 332,126 shares of the company’s stock valued at $1,279,000 after purchasing an additional 57,239 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Accolade by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock worth $6,862,000 after purchasing an additional 83,556 shares during the period. 84.99% of the stock is currently owned by hedge funds and other 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.