Accolade, Inc. (NASDAQ:ACCD) Short Interest Up 30.1% in March

Accolade, Inc. (NASDAQ:ACCD - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,030,000 shares, an increase of 30.1% from the February 28th total of 1,560,000 shares. Currently, 2.7% of the company's shares are short sold. Based on an average daily volume of 2,030,000 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. William Blair lowered shares of Accolade from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 8th. Stephens reaffirmed an "equal weight" rating and set a $7.03 price target on shares of Accolade in a research note on Wednesday, February 12th. Leerink Partners reiterated a "market perform" rating on shares of Accolade in a report on Wednesday, January 8th. Piper Sandler downgraded Accolade from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Leerink Partnrs cut Accolade from a "strong-buy" rating to a "hold" rating in a 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. Based on data from MarketBeat, Accolade currently has a consensus rating of "Hold" and a consensus target price of $6.51.

Accolade Stock Up 0.3 %

ACCD stock traded up $0.02 during trading on Thursday, reaching $7.01. 1,325,649 shares of the company traded hands, compared to its average volume of 1,405,914. The business has a 50 day simple moving average of $6.94 and a 200 day simple moving average of $5.04. Accolade has a 12 month low of $3.08 and a 12 month high of $9.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63. The company has a market capitalization of $574.77 million, a price-to-earnings ratio of -3.12 and a beta of 2.18.

Accolade (NASDAQ:ACCD - Get Free Report) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. On average, equities research analysts anticipate that Accolade will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accolade

Several institutional investors and hedge funds have recently bought and sold shares of ACCD. Invesco Ltd. lifted its holdings in shares of Accolade by 2.3% during the 4th quarter. Invesco Ltd. now owns 78,724 shares of the company's stock valued at $269,000 after purchasing an additional 1,804 shares during the last quarter. Rhumbline Advisers increased its position in Accolade by 1.7% during 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 in the last quarter. Centiva Capital LP raised its stake in Accolade by 5.8% in the third 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. Dimensional Fund Advisors LP boosted its holdings in Accolade by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,275 shares of the company's stock worth $5,175,000 after acquiring an additional 3,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Accolade by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,673 shares of the company's stock worth $95,000 after acquiring an additional 3,982 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

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.