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

Accolade, Inc. (NASDAQ:ACCD) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 4,530,000 shares, a growth of 6.8% from the August 31st total of 4,240,000 shares. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is currently 2.9 days.

Institutional Investors Weigh In On Accolade

A number of large investors have recently added to or reduced their stakes in ACCD. Clearline Capital LP purchased a new position in shares of Accolade during the second quarter valued at approximately $2,974,000. Algert Global LLC lifted its stake in shares of Accolade by 153.5% during the 2nd quarter. Algert Global LLC now owns 354,119 shares of the company’s stock worth $1,268,000 after purchasing an additional 214,441 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock worth $104,000 after purchasing an additional 3,416 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Accolade by 244.7% during the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after purchasing an additional 1,862,178 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Accolade by 33.5% in the second quarter. AQR Capital Management LLC now owns 75,330 shares of the company’s stock valued at $270,000 after purchasing an additional 18,885 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ACCD shares. Canaccord Genuity Group dropped their price target on shares of Accolade from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus lowered their price objective on shares of Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Truist Financial cut their target price on shares of Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Guggenheim lowered their price target on Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Accolade in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.65.

Accolade Trading Down 2.6 %

Shares of ACCD stock opened at $3.75 on Wednesday. Accolade has a 1-year low of $3.35 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.80 and a quick ratio of 2.80. The business’s fifty day moving average price is $4.03 and its 200 day moving average price is $6.00. The firm has a market capitalization of $300.03 million, a PE ratio of -3.23 and a beta of 2.00.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.