Short Interest in Accolade, Inc. (NASDAQ:ACCD) Increases By 10.3%

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 3,430,000 shares, an increase of 10.3% from the December 15th total of 3,110,000 shares. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

Several research firms have commented on ACCD. Wells Fargo & Company reduced their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Raymond James reaffirmed a “market perform” rating on shares of Accolade in a research note on Thursday, January 9th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Finally, Leerink Partners reissued a “market perform” rating on shares of Accolade in a research note on Wednesday, January 8th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.55.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 41,298 shares of company stock valued at $149,987 in the last three months. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accolade

Large investors have recently bought and sold shares of the stock. Mission Creek Capital Partners Inc. acquired a new stake in shares of Accolade during the third quarter worth $38,000. Pallas Capital Advisors LLC acquired a new position in Accolade in the fourth quarter valued at $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Accolade in the third quarter valued at $46,000. Wolverine Trading LLC acquired a new position in Accolade in the third quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Accolade by 1,144.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after acquiring an additional 19,232 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Accolade Stock Performance

NASDAQ ACCD opened at $6.89 on Friday. Accolade has a 1-year low of $3.08 and a 1-year high of $13.93. The company has a market capitalization of $554.92 million, a P/E ratio of -3.06 and a beta of 2.08. The business has a 50 day moving average price of $4.08 and a 200 day moving average price of $3.90. 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 released its quarterly earnings data on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. Sell-side analysts expect that Accolade will post -0.92 EPS for the current fiscal year.

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.