Accelevation Holdings Corp.'s (NASDAQ:ACCV) Quiet Period To Expire on November 9th

Key Points

• Accelevation’s IPO quiet period expires November 9, potentially allowing underwriters to initiate or expand research coverage after the company’s $540 million offering of 30 million shares at $18 each.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $19.43.
• ACCV opened at $14.48, below its $18 IPO price, while insiders have purchased 227,700 shares worth $4.1 million over the past three months, including recent purchases by a director and the COO.

Accelevation's (NASDAQ:ACCV - Get Free Report) quiet period is set to expire on Monday, November 9th. Accelevation had issued 30,000,000 shares in its IPO on September 30th. The total size of the offering was $540,000,000 based on an initial share price of $18.00. During the company's quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company's quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

Several brokerages have issued reports on ACCV. William Blair set a $20.00 price target on shares of Accelevation in a research report on Monday, October 26th. The Goldman Sachs Group started coverage on shares of Accelevation in a research report on Monday, October 26th. They set a "buy" rating and a $22.00 target price on the stock. Robert W. Baird assumed coverage on shares of Accelevation in a research note on Monday, October 26th. They issued an "outperform" rating and a $16.00 target price for the company. Wall Street Zen upgraded Accelevation to a "hold" rating in a research report on Saturday, October 10th. Finally, Morgan Stanley started coverage on shares of Accelevation in a research report on Monday, October 26th. They set an "equal weight" rating and a $18.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $19.43.

Accelevation Price Performance

NASDAQ:ACCV opened at $14.48 on Monday. Accelevation has a 52 week low of $11.58 and a 52 week high of $18.10.

Insiders Place Their Bets

In other news, Director Ginger Jones purchased 10,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was purchased at an average price of $18.00 per share, for a total transaction of $180,000.00. Following the completion of the acquisition, the director owned 10,000 shares of the company's stock, valued at approximately $180,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Brent Jewell bought 2,500 shares of the business's stock in a transaction on Thursday, October 1st. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $45,000.00. Following the transaction, the chief operating officer directly owned 304,068 shares in the company, valued at approximately $5,473,224. This trade represents a 0.83% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 227,700 shares of company stock worth $4,098,600.

About Accelevation

Accelevation Holdings Corp. designs, manufactures and installs customized structural, electrical and mechanical systems for mission-critical infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.