Accolade, Inc. (NASDAQ:ACCD) Short Interest Update

Accolade, Inc. (NASDAQ:ACCD) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,560,000 shares, a drop of 22.0% from the February 13th total of 2,000,000 shares. Based on an average daily volume of 2,060,000 shares, the short-interest ratio is currently 0.8 days. Approximately 2.1% of the company’s stock are short sold.

Accolade Stock Performance

Shares of ACCD opened at $6.98 on Monday. Accolade has a 52-week low of $3.08 and a 52-week high of $10.68. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $572.31 million, a PE ratio of -3.10 and a beta of 2.18. The firm has a 50-day moving average price of $6.77 and a 200 day moving average price of $4.77.

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

Hedge Funds Weigh In On Accolade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. lifted its holdings in shares of Accolade by 77.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,280,783 shares of the company’s stock worth $7,800,000 after buying an additional 998,423 shares during the last quarter. Fairman Group LLC raised its holdings in shares of Accolade by 58.5% in the fourth quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock valued at $6,164,000 after buying an additional 665,112 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Accolade by 4.9% during the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after purchasing an additional 83,556 shares during the last quarter. Whetstone Capital Advisors LLC increased its stake in shares of Accolade by 58.9% in the 4th quarter. Whetstone Capital Advisors LLC now owns 1,585,643 shares of the company’s stock valued at $5,423,000 after buying an additional 587,754 shares during the period. Finally, Clearline Capital LP increased its position in Accolade by 85.3% in the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after purchasing an additional 708,794 shares during the period. Institutional investors own 84.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ACCD shares. Morgan Stanley decreased their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Canaccord Genuity Group restated a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. William Blair lowered Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Truist Financial downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.51.

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.