Short Interest in Accolade, Inc. (NASDAQ:ACCD) Declines By 13.7%

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 3,140,000 shares, a decline of 13.7% from the November 15th total of 3,640,000 shares. Based on an average daily trading volume, of 1,290,000 shares, the short-interest ratio is presently 2.4 days.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 42,346 shares of company stock worth $151,898 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Several institutional investors have recently added to or reduced their stakes in the company. Clearline Capital LP bought a new position in shares of Accolade during the second quarter worth approximately $2,974,000. Whetstone Capital Advisors LLC acquired a new position in shares of Accolade in the 3rd quarter valued at about $3,842,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Accolade by 273.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock worth $931,000 after buying an additional 190,396 shares in the last quarter. Acadian Asset Management LLC bought a new position in Accolade during the second quarter worth $1,229,000. Finally, Johnson Financial Group LLC bought a new position in shares of Accolade during the 3rd quarter worth about $1,642,000. 84.99% of the stock is currently owned by institutional investors.

Accolade Stock Up 0.3 %

Shares of ACCD stock opened at $3.49 on Friday. The firm’s 50-day moving average is $3.57 and its 200-day moving average is $4.23. The stock has a market cap of $281.07 million, a price-to-earnings ratio of -3.39 and a beta of 2.07. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. Accolade has a 52-week low of $3.08 and a 52-week high of $15.36.

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

Analysts Set New Price Targets

Several research firms have issued reports on ACCD. Stephens reduced their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Canaccord Genuity Group decreased their price objective on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Truist Financial lowered their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.04.

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.