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

Accelevation Holdings Corp. (NASDAQ:ACCV – Get Free Report) was the target 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. Based on an average trading volume of 2,598,503 shares, the days-to-cover ratio is presently 1.1 days. Currently, 1.3% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, COO Brent Jewell acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $45,000.00. Following the completion of the acquisition, the chief operating officer owned 304,068 shares in the company, valued at approximately $5,473,224. The trade was a 0.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Rubiera acquired 200,000 shares of Accelevation stock in a transaction that occurred on Thursday, October 1st. The shares were purchased at an average cost of $18.00 per share, with a total value of $3,600,000.00. Following the transaction, the chief executive officer owned 1,424,285 shares of the company’s stock, valued at approximately $25,637,130. The trade was a 16.34% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 227,700 shares of company stock valued at $4,098,600 in the last three months.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ACCV. Zacks Research began coverage on shares of Accelevation in a research note on Tuesday, October 27th. They issued a “hold” rating for the company. William Blair set a $20.00 target price on shares of Accelevation in a research note on Monday, October 26th. The Goldman Sachs Group initiated coverage on shares of Accelevation in a report on Monday, October 26th. They issued a “buy” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Accelevation in a research report on Monday, October 26th. They set an “overweight” rating and a $20.00 target price for the company. Finally, Morgan Stanley initiated coverage on shares of Accelevation in a research report on Monday, October 26th. They set an “equal weight” rating and a $18.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.43.

Read Our Latest Stock Analysis on Accelevation

Accelevation Price Performance

Accelevation stock traded down $0.71 during mid-day trading on Friday, reaching $14.48. The company had a trading volume of 2,165,401 shares, compared to its average volume of 1,633,664. Accelevation has a 52 week low of $11.58 and a 52 week high of $18.10.

Accelevation Company Profile

(Get Free Report)

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

See Also

Receive News & Ratings for Accelevation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accelevation and related companies with MarketBeat.com's FREE daily email newsletter.