Short Interest in Accolade, Inc. (NASDAQ:ACCD) Drops By 15.0%

Accolade, Inc. (NASDAQ:ACCD - Get Free Report) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 2,830,000 shares, a decrease of 15.0% from the January 15th total of 3,330,000 shares. Based on an average daily volume of 2,010,000 shares, the days-to-cover ratio is currently 1.4 days.

Insider Activity

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares of the company's stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 40,472 shares of company stock worth $162,479 over the last ninety days. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Accolade

Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. grew its stake in shares of Accolade by 2.3% during the 4th quarter. Invesco Ltd. now owns 78,724 shares of the company's stock worth $269,000 after acquiring an additional 1,804 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Accolade by 1.7% in the 4th quarter. Rhumbline Advisers now owns 115,136 shares of the company's stock valued at $394,000 after buying an additional 1,967 shares during the last quarter. Centiva Capital LP boosted its holdings in shares of Accolade by 5.8% in the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company's stock valued at $230,000 after buying an additional 3,264 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Accolade by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company's stock valued at $104,000 after buying an additional 3,416 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Accolade by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,513,275 shares of the company's stock valued at $5,175,000 after buying an additional 3,885 shares during the last quarter. 84.99% of the stock is owned by institutional investors.

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Accolade Trading Down 0.2 %

Shares of NASDAQ:ACCD traded down $0.02 during mid-day trading on Tuesday, reaching $6.89. The stock had a trading volume of 393,824 shares, compared to its average volume of 2,999,831. The firm has a market cap of $561.75 million, a PE ratio of -3.06 and a beta of 2.20. The firm has a 50 day simple moving average of $5.44 and a two-hundred day simple moving average of $4.37. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. Accolade has a twelve month low of $3.08 and a twelve month high of $12.24.

Accolade (NASDAQ:ACCD - Get Free Report) last posted its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (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, research analysts predict that Accolade will post -1.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ACCD shares. Leerink Partnrs lowered shares of Accolade from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 8th. Needham & Company LLC reiterated a "hold" rating on shares of Accolade in a research report on Wednesday, January 8th. William Blair downgraded shares of 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 research note on Thursday, January 9th. Finally, Leerink Partners reaffirmed a "market perform" rating on shares of Accolade in a research note on Wednesday, January 8th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $7.46.

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.