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

Accolade, Inc. (NASDAQ:ACCD) saw a significant decline in short interest in 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 trading volume of 2,060,000 shares, the short-interest ratio is currently 0.8 days. Approximately 2.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

ACCD has been the subject of several analyst reports. Stephens reissued an “equal weight” rating and issued a $7.03 price target on shares of Accolade in a report on Wednesday, February 12th. Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Raymond James reaffirmed a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Piper Sandler lowered Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley decreased their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.51.

Institutional Investors Weigh In On Accolade

Hedge funds and other institutional investors have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. increased its stake in Accolade by 77.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,280,783 shares of the company’s stock worth $7,800,000 after purchasing an additional 998,423 shares during the period. Fairman Group LLC increased its stake in shares of Accolade by 58.5% in the fourth quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock worth $6,164,000 after buying an additional 665,112 shares during the period. Geode Capital Management LLC raised its holdings in Accolade by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after buying an additional 83,556 shares during the last quarter. Whetstone Capital Advisors LLC boosted its position in Accolade by 58.9% during the 4th quarter. Whetstone Capital Advisors LLC now owns 1,585,643 shares of the company’s stock valued at $5,423,000 after buying an additional 587,754 shares during the period. Finally, Clearline Capital LP grew its holdings in Accolade by 85.3% in the 3rd quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after acquiring an additional 708,794 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Accolade Price Performance

Shares of NASDAQ ACCD opened at $7.00 on Wednesday. The stock has a market capitalization of $573.95 million, a P/E ratio of -3.11 and a beta of 2.18. Accolade has a one year low of $3.08 and a one year high of $10.68. The firm’s 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $4.81. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63.

Accolade (NASDAQ:ACCD) last released its earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate 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, analysts expect that Accolade will post -1.2 EPS for the current fiscal year.

Accolade Company Profile

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.