Short Interest in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Declines By 8.0%

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 551,100 shares, a decrease of 8.0% from the July 31st total of 599,300 shares. Based on an average daily volume of 65,300 shares, the short-interest ratio is presently 8.4 days. Approximately 4.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Accelerate Diagnostics in a report on Tuesday. They set a “hold” rating for the company.

Institutional Trading of Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. boosted its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent quarter. Institutional investors own 17.14% of the company’s stock.

Accelerate Diagnostics Trading Down 1.4 %

NASDAQ:AXDX opened at $1.97 on Wednesday. The firm has a market capitalization of $43.44 million, a price-to-earnings ratio of -0.48 and a beta of 0.57. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $7.06. The business’s fifty day moving average price is $1.42 and its 200 day moving average price is $1.17.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The company had revenue of $2.99 million for the quarter, compared to analyst estimates of $3.00 million. Equities analysts forecast that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

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.