Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Short Interest Down 12.6% in September

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 468,400 shares, a decrease of 12.6% from the August 31st total of 535,700 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily trading volume, of 52,500 shares, the short-interest ratio is currently 8.9 days.

Accelerate Diagnostics Stock Down 3.2 %

Shares of NASDAQ AXDX traded down $0.06 during midday trading on Monday, hitting $1.70. The company had a trading volume of 43,960 shares, compared to its average volume of 85,433. The firm has a market capitalization of $37.57 million, a price-to-earnings ratio of -0.43 and a beta of 0.62. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $7.00. The business has a 50-day simple moving average of $1.58 and a two-hundred day simple moving average of $1.24.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.05. The firm had revenue of $2.99 million for the quarter, compared to analysts’ expectations of $3.00 million. On average, equities analysts forecast that Accelerate Diagnostics will post -2.14 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Accelerate Diagnostics in a research note on Friday. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. boosted its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,354,254 shares of the medical research company’s stock after acquiring an additional 134,530 shares during the period. Griffin Asset Management Inc. owned 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms.