Accelevation (NASDAQ:ACCV) Shares Down 15.3% – Here’s Why

Shares of Accelevation Holdings Corp. (NASDAQ:ACCV) fell 15.3% on Thursday. The stock traded as low as $9.65 and last traded at $9.91. Approximately 193,156 shares were traded during trading, a decline of 90% from the average session volume of 1,887,174 shares. The stock had previously closed at $11.70.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Accelevation in a report on Monday, October 26th. They set an “overweight” rating and a $20.00 target price for the company. William Blair set a $20.00 price objective on shares of Accelevation in a report on Monday, October 26th. Robert W. Baird began coverage on Accelevation in a research note on Monday, October 26th. They set an “outperform” rating and a $16.00 price objective on the stock. Barclays assumed coverage on Accelevation in a research note on Monday, October 26th. They issued an “overweight” rating and a $20.00 target price for the company. Finally, Wall Street Zen upgraded Accelevation to a “hold” rating in a report on Saturday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Accelevation has an average rating of “Moderate Buy” and an average target price of $19.43.

Accelevation Trading Down 16.5%

Insider Transactions at Accelevation

In other news, CEO Michael Rubiera purchased 200,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were purchased at an average price of $18.00 per share, with a total value of $3,600,000.00. Following the purchase, the chief executive officer directly owned 1,424,285 shares of the company’s stock, valued at approximately $25,637,130. This represents a 16.34% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul Donahue bought 7,000 shares of Accelevation stock in a transaction on Thursday, October 1st. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $126,000.00. Following the acquisition, the director owned 7,000 shares in the company, valued at $126,000. The trade was a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 227,700 shares of company stock valued at $4,098,600 in the last three months.

Accelevation Company Profile

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