Accolade, Inc. (NASDAQ:ACCD) Short Interest Down 6.5% in June

Accolade, Inc. (NASDAQ:ACCD) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 3,600,000 shares, a decrease of 6.5% from the May 31st total of 3,850,000 shares. Based on an average daily volume of 688,100 shares, the short-interest ratio is currently 5.2 days.

Accolade Price Performance

NASDAQ:ACCD opened at $3.53 on Wednesday. The business’s 50-day moving average price is $6.86 and its 200 day moving average price is $9.56. The firm has a market cap of $282.44 million, a P/E ratio of -3.04 and a beta of 2.00. Accolade has a 52-week low of $3.48 and a 52-week high of $15.36. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.48.

Accolade (NASDAQ:ACCD) last released its earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.13. The firm had revenue of $110.50 million for the quarter, compared to analyst estimates of $105.22 million. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. Accolade’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.52) earnings per share. As a group, sell-side analysts predict that Accolade will post -1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Accolade from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company reduced their price objective on Accolade from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Accolade in a research note on Monday, June 24th. Barclays dropped their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Finally, Guggenheim dropped their target price on Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accolade presently has a consensus rating of “Moderate Buy” and an average price target of $11.65.

Insider Buying and Selling at Accolade

In other news, CAO Colin Mchugh sold 5,543 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $6.62, for a total transaction of $36,694.66. Following the completion of the transaction, the chief accounting officer now owns 50,177 shares of the company’s stock, valued at approximately $332,171.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 14,303 shares of company stock worth $100,342. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bellevue Group AG boosted its position in shares of Accolade by 6.6% in the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after purchasing an additional 297,110 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after purchasing an additional 2,586 shares during the period. GGV Capital LLC boosted its position in shares of Accolade by 242.9% in the 1st quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock valued at $189,000 after purchasing an additional 12,795 shares during the period. Vanguard Group Inc. boosted its position in shares of Accolade by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock valued at $56,626,000 after purchasing an additional 77,044 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of Accolade in the 1st quarter valued at $360,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.