Accolade, Inc. (NASDAQ:ACCD) Short Interest Down 5.3% in October

Accolade, Inc. (NASDAQ:ACCD - Get Free Report) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,860,000 shares, a drop of 5.3% from the October 15th total of 5,130,000 shares. Based on an average trading volume of 1,240,000 shares, the short-interest ratio is currently 3.9 days.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACCD. Needham & Company LLC reissued a "buy" rating and set a $8.00 price objective on shares of Accolade in a research note on Monday, October 7th. Wells Fargo & Company dropped their price objective on Accolade from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group dropped their price objective on Accolade from $13.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Stephens dropped their price objective on Accolade from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. Finally, Truist Financial dropped their price target on Accolade from $9.00 to $7.50 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.04.

Accolade Trading Down 2.6 %

Shares of Accolade stock traded down $0.09 on Monday, hitting $3.38. 1,129,796 shares of the company traded hands, compared to its average volume of 1,090,792. The stock's 50 day moving average price is $3.69 and its 200-day moving average price is $4.69. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a 52 week low of $3.08 and a 52 week high of $15.36. The company has a market cap of $272.23 million, a PE ratio of -3.37 and a beta of 2.02.

Accolade (NASDAQ:ACCD - Get Free Report) last released its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. The business had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) earnings per share. Equities research analysts predict that Accolade will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Accolade

Hedge funds have recently added to or reduced their stakes in the business. Mission Creek Capital Partners Inc. acquired a new position in shares of Accolade in the third quarter worth about $38,000. SG Americas Securities LLC acquired a new stake in Accolade in the 2nd quarter valued at about $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Accolade in the 3rd quarter valued at about $46,000. Wolverine Trading LLC acquired a new stake in Accolade in the 3rd quarter valued at about $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company's stock valued at $73,000 after acquiring an additional 3,789 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.