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

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

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 41,127 shares of company stock valued at $164,674. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Accolade

A number of large investors have recently bought and sold shares of the business. Northern Trust Corp boosted its holdings in Accolade by 4.4% in the fourth quarter. Northern Trust Corp now owns 637,012 shares of the company’s stock worth $2,179,000 after purchasing an additional 27,127 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Accolade during the 4th quarter worth $43,000. Nebula Research & Development LLC lifted its position in Accolade by 21.3% during the 4th quarter. Nebula Research & Development LLC now owns 116,053 shares of the company’s stock worth $397,000 after acquiring an additional 20,349 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Accolade by 16.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,673 shares of the company’s stock worth $95,000 after acquiring an additional 3,982 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in Accolade by 144.3% during the 4th quarter. Hsbc Holdings PLC now owns 62,939 shares of the company’s stock worth $214,000 after acquiring an additional 37,174 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

Accolade Stock Performance

Accolade stock opened at $6.90 on Friday. The stock has a market cap of $562.97 million, a P/E ratio of -3.07 and a beta of 2.20. Accolade has a 12 month low of $3.08 and a 12 month high of $13.47. The company’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $4.33. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Friday, January 10th. The company reported ($0.30) earnings per share (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%. As a group, sell-side analysts forecast that Accolade will post -1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACCD has been the topic of several research reports. Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Leerink Partners reiterated a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Stephens reiterated an “equal weight” rating and set a $7.03 price objective on shares of Accolade in a research report on Wednesday. William Blair cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Accolade presently has an average rating of “Hold” and an average price target of $7.46.

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.