Accolade, Inc. (NASDAQ:ACCD) Short Interest Up 5.6% in October

Accolade, Inc. (NASDAQ:ACCD - Get Free Report) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 5,130,000 shares, an increase of 5.6% from the September 30th total of 4,860,000 shares. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is presently 4.3 days.

Institutional Investors Weigh In On Accolade

Institutional investors and hedge funds have recently modified their holdings of the company. 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 purchased a new stake in Accolade during the 3rd quarter worth about $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 purchasing an additional 3,789 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Accolade in the 1st quarter valued at about $87,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Accolade by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company's stock worth $104,000 after purchasing an additional 3,416 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Accolade from $7.00 to $6.00 and set an "equal weight" rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group lowered their target price on shares of Accolade from $13.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Truist Financial decreased their price objective on shares of Accolade from $9.00 to $7.50 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Barclays cut their target price on Accolade from $5.50 to $5.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 9th. Finally, Stephens lowered their price target on Accolade from $10.00 to $8.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.04.

Accolade Stock Performance

Shares of NASDAQ:ACCD traded down $0.19 during trading on Thursday, reaching $3.17. The company had a trading volume of 1,476,920 shares, compared to its average volume of 1,080,136. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.80. The stock's fifty day moving average price is $3.89 and its 200 day moving average price is $5.15. Accolade has a fifty-two week low of $3.13 and a fifty-two week high of $15.36. The firm has a market capitalization of $255.30 million, a price-to-earnings ratio of -3.18 and a beta of 1.99.

Accolade (NASDAQ:ACCD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the previous year, the company earned ($0.43) EPS. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Accolade will post -1.09 EPS for the current year.

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.