GSA Capital Partners LLP Raises Stock Position in Accolade, Inc. (NASDAQ:ACCD)

GSA Capital Partners LLP raised its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 41.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460,052 shares of the company’s stock after purchasing an additional 134,427 shares during the quarter. GSA Capital Partners LLP owned approximately 0.57% of Accolade worth $1,771,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ACCD. Swiss National Bank boosted its holdings in shares of Accolade by 1.7% during the 1st quarter. Swiss National Bank now owns 137,500 shares of the company’s stock valued at $1,441,000 after buying an additional 2,300 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Accolade by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after buying an additional 2,586 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings 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 valued at $104,000 after buying an additional 3,416 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after buying an additional 3,789 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Accolade during the 1st quarter valued at $87,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Accolade Price Performance

NASDAQ ACCD opened at $3.71 on Wednesday. The company has a 50-day moving average price of $3.74 and a 200-day moving average price of $4.80. Accolade, Inc. has a 52 week low of $3.08 and a 52 week high of $15.36. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $298.80 million, a P/E ratio of -3.55 and a beta of 2.02.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The firm had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the prior year, the business earned ($0.43) EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Accolade, Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACCD has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Canaccord Genuity Group dropped their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Barclays dropped their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Stephens dropped their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Truist Financial dropped their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.04.

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.