Accolade, Inc. (NASDAQ:ACCD) Short Interest Update

Accolade, Inc. (NASDAQ:ACCD) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 2,030,000 shares, an increase of 30.1% from the February 28th total of 1,560,000 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average trading volume of 2,030,000 shares, the days-to-cover ratio is presently 1.0 days.

Accolade Stock Up 0.1 %

Shares of NASDAQ:ACCD opened at $6.99 on Wednesday. The firm has a fifty day moving average price of $6.94 and a two-hundred day moving average price of $5.01. The company has a market cap of $573.13 million, a price-to-earnings ratio of -3.11 and a beta of 2.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63. Accolade has a one year low of $3.08 and a one year high of $9.86.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. Analysts anticipate that Accolade will post -1.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Accolade

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted its position in Accolade by 2.3% in the 4th quarter. Invesco Ltd. now owns 78,724 shares of the company’s stock worth $269,000 after buying an additional 1,804 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Accolade by 1.7% in the 4th quarter. Rhumbline Advisers now owns 115,136 shares of the company’s stock worth $394,000 after acquiring an additional 1,967 shares during the last quarter. Centiva Capital LP boosted its stake in shares of Accolade by 5.8% in the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock valued at $230,000 after purchasing an additional 3,264 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Accolade by 0.3% during the 4th 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. Finally, Price T Rowe Associates Inc. MD raised its position in Accolade by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,673 shares of the company’s stock worth $95,000 after purchasing an additional 3,982 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACCD has been the topic of a number of recent analyst reports. Piper Sandler cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Morgan Stanley dropped their target price on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Leerink Partnrs downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Accolade presently has a consensus rating of “Hold” and an average price target of $6.51.

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.