Accolade, Inc. (NASDAQ:ACCD) Short Interest Down 5.3% in October

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 4,860,000 shares, a decline of 5.3% from the October 15th total of 5,130,000 shares. Based on an average daily trading volume, of 1,240,000 shares, the short-interest ratio is currently 3.9 days.

Accolade Stock Performance

Shares of ACCD opened at $3.49 on Wednesday. The firm has a market cap of $281.07 million, a price-to-earnings ratio of -3.39 and a beta of 2.02. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $3.68 and its two-hundred day moving average is $4.66. Accolade has a 52-week low of $3.08 and a 52-week high of $15.36.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (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 analysts’ expectations of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.43) earnings per share. Analysts forecast that Accolade will post -0.92 EPS for the current fiscal year.

Institutional Trading of Accolade

A number of institutional investors and hedge funds have recently modified their holdings of ACCD. Mission Creek Capital Partners Inc. acquired a new stake in Accolade in the third quarter worth $38,000. SG Americas Securities LLC bought a new position in Accolade in the 2nd quarter worth about $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Accolade in the third quarter valued at approximately $46,000. Wolverine Trading LLC bought a new stake in shares of Accolade during the third quarter valued at approximately $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after buying an additional 3,789 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ACCD shares. Canaccord Genuity Group cut their price target on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Accolade in a report on Monday, October 7th. Stephens dropped their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Barclays reduced their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Finally, Truist Financial dropped their price target on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.04.

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.