Accelevation Holdings Corp. (NASDAQ:ACCV) Sees Large Increase in Short Interest

Key Points

• Short interest rose significantly to 2,835,572 shares as of October 15, representing 1.3% of Accelevation’s outstanding shares and 1.1 days to cover based on average trading volume.
• Analyst sentiment is broadly positive: seven analysts rate the stock Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of $19.43.
• ACCV shares fell 4.7% to $14.48, while insiders purchased 227,700 shares worth approximately $4.1 million over the past 90 days.

Accelevation Holdings Corp. (NASDAQ:ACCV - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,835,572 shares. Currently, 1.3% of the company's shares are sold short. Based on an average daily trading volume, of 2,598,503 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on ACCV shares. JPMorgan Chase & Co. initiated coverage on shares of Accelevation in a report on Monday, October 26th. They issued an "overweight" rating and a $20.00 target price on the stock. Wall Street Zen upgraded shares of Accelevation to a "hold" rating in a report on Saturday, October 10th. Wolfe Research initiated coverage on shares of Accelevation in a research report on Monday, October 26th. They set an "outperform" rating for the company. Robert W. Baird began coverage on shares of Accelevation in a report on Monday, October 26th. They issued an "outperform" rating and a $16.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Accelevation in a research report on Monday, October 26th. They issued a "buy" rating and a $22.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Accelevation currently has an average rating of "Moderate Buy" and a consensus target price of $19.43.

Accelevation Stock Down 4.7%

ACCV stock traded down $0.71 on Friday, reaching $14.48. The company's stock had a trading volume of 2,165,401 shares, compared to its average volume of 1,633,664. Accelevation has a 12-month low of $11.58 and a 12-month high of $18.10.

Insider Transactions at Accelevation

In related news, Director Ginger M. Jones purchased 10,000 shares of Accelevation stock in a transaction that occurred on Thursday, October 1st. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $180,000.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at $180,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul D. Donahue purchased 7,000 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was bought at an average cost of $18.00 per share, for a total transaction of $126,000.00. Following the completion of the purchase, the director directly owned 7,000 shares in the company, valued at approximately $126,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 227,700 shares of company stock valued at $4,098,600.

About Accelevation

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

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