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Accolade, Inc. (NASDAQ:ACCD) Sees Large Increase in Short Interest

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Accolade, Inc. (NASDAQ:ACCD - Get Free Report) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 3,430,000 shares, an increase of 10.3% from the December 15th total of 3,110,000 shares. Based on an average daily trading volume, of 1,790,000 shares, the short-interest ratio is currently 1.9 days.

Insider Buying and Selling

In related news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the transaction, the chief executive officer now directly owns 814,316 shares of the company's stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 41,298 shares of company stock valued at $149,987 over the last three months. Corporate insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On Accolade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in shares of Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company's stock worth $9,391,000 after acquiring an additional 1,862,178 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Accolade by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company's stock worth $6,862,000 after acquiring an additional 83,556 shares during the last quarter. Clearline Capital LP boosted its stake in shares of Accolade by 85.3% during 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. Whetstone Capital Advisors LLC purchased a new position in shares of Accolade during the 3rd quarter worth $3,842,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Accolade during the 3rd quarter worth $2,378,000. Hedge funds and other institutional investors own 84.99% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Accolade from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Friday, October 11th. William Blair downgraded shares of Accolade from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Stephens downgraded shares of Accolade from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Accolade in a research note on Wednesday, January 8th. Finally, Morgan Stanley decreased their target price on shares of Accolade from $6.00 to $5.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.55.

View Our Latest Stock Report on ACCD

Accolade Stock Up 0.4 %

Shares of NASDAQ:ACCD traded up $0.03 during trading on Friday, reaching $6.89. 2,414,827 shares of the stock traded hands, compared to its average volume of 2,006,093. The stock has a 50-day moving average of $4.08 and a two-hundred day moving average of $3.90. Accolade has a 52-week low of $3.08 and a 52-week high of $13.93. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The stock has a market cap of $554.92 million, a P/E ratio of -3.06 and a beta of 2.08.

Accolade (NASDAQ:ACCD - Get Free Report) last issued its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. As a group, sell-side analysts expect that Accolade will post -0.92 earnings per share for the current fiscal year.

About Accolade

(Get Free Report)

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.

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