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

Accolade, Inc. (NASDAQ:ACCD) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,560,000 shares, a decline of 22.0% from the February 13th total of 2,000,000 shares. Based on an average daily trading volume, of 2,060,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 2.1% of the company’s shares are short sold.

Accolade Stock Performance

NASDAQ:ACCD opened at $7.00 on Wednesday. Accolade has a 52 week low of $3.08 and a 52 week high of $10.68. The stock has a market cap of $573.95 million, a price-to-earnings ratio of -3.11 and a beta of 2.18. The company’s 50 day moving average price is $6.91 and its 200-day moving average price is $4.81. 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 posted its 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 return on equity of 20.74% and a negative net margin of 40.36%. On average, equities research analysts forecast that Accolade will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Accolade

A number of institutional investors have recently made changes to their positions in ACCD. Invesco Ltd. grew its holdings in shares of Accolade by 2.3% in the fourth quarter. Invesco Ltd. now owns 78,724 shares of the company’s stock worth $269,000 after acquiring an additional 1,804 shares during the period. Rhumbline Advisers boosted its position in Accolade by 1.7% in the fourth quarter. Rhumbline Advisers now owns 115,136 shares of the company’s stock worth $394,000 after purchasing an additional 1,967 shares during the last quarter. Centiva Capital LP grew its stake in shares of Accolade by 5.8% during 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 during the period. Dimensional Fund Advisors LP increased its position 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 lifted its stake in shares of 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. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ACCD. Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Truist Financial lowered Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.03 price target (down from $8.00) on shares of Accolade in a research note on Thursday, January 9th. Raymond James reissued a “market perform” rating on shares of Accolade in a research report on Thursday, January 9th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.51.

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.