Accolade, Inc. (NASDAQ:ACCD) Sees Large Decline in Short Interest

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,830,000 shares, a decline of 15.0% from the January 15th total of 3,330,000 shares. Based on an average trading volume of 2,010,000 shares, the short-interest ratio is currently 1.4 days.

Analyst Ratings Changes

A number of brokerages have recently commented on ACCD. Leerink Partnrs lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Morgan Stanley cut 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. Finally, Raymond James reissued a “market perform” rating on shares of Accolade in a research report on Thursday, January 9th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.46.

Accolade Price Performance

Shares of Accolade stock opened at $6.90 on Friday. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $562.97 million, a price-to-earnings ratio of -3.07 and a beta of 2.20. Accolade has a 1-year low of $3.08 and a 1-year high of $13.47. The firm’s 50-day moving average price is $5.31 and its two-hundred day moving average price is $4.33.

Accolade (NASDAQ:ACCD) last issued 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 net margin of 40.36% and a negative return on equity of 20.74%. On average, equities analysts predict that Accolade will post -1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Rajeev Singh sold 13,357 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 41,127 shares of company stock valued at $164,674 in the last quarter. Insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Several large investors have recently added to or reduced their stakes in the company. Fairman Group LLC grew its stake in Accolade by 58.5% during the fourth quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock worth $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 grew its stake in shares of Accolade by 58.9% during the fourth quarter. Whetstone Capital Advisors LLC now owns 1,585,643 shares of the company’s stock valued at $5,423,000 after purchasing an additional 587,754 shares during the last quarter. Clearline Capital LP grew its stake in shares of Accolade by 85.3% during the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock valued at $5,927,000 after purchasing an additional 708,794 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Accolade by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,275 shares of the company’s stock valued at $5,175,000 after purchasing an additional 3,885 shares during the last quarter. 84.99% of the stock is owned by institutional investors.

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.