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

Accolade, Inc. (NASDAQ:ACCD) was the target 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 volume of 1,240,000 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Investors Weigh In On Accolade

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Accolade during the 1st quarter valued at $87,000. Mission Creek Capital Partners Inc. acquired a new position in Accolade during the third quarter worth $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Accolade during the third quarter valued at about $46,000. SG Americas Securities LLC acquired a new stake in shares of Accolade in the second quarter worth about $43,000. Finally, Wolverine Trading LLC acquired a new stake in shares of Accolade in the third quarter worth about $51,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACCD has been the topic of several research analyst reports. Canaccord Genuity Group lowered their price target on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of Accolade in a research note on Monday, October 7th. Barclays cut their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Finally, Truist Financial decreased their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Accolade has an average rating of “Moderate Buy” and a consensus price target of $9.04.

Accolade Stock Up 3.3 %

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

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The business 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%. Accolade’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) earnings per share. On average, research analysts predict that Accolade will post -0.92 EPS for the current fiscal year.

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.