William Blair Initiates Coverage on Accelevation (NASDAQ:ACCV)

Analysts at William Blair assumed coverage on shares of Accelevation (NASDAQ:ACCV) in a report released on Monday, Marketbeat reports. The firm set an “outperform” rating on the stock.

ACCV has been the subject of several other reports. Bank of America began coverage on Accelevation in a research note on Monday. They set a “buy” rating and a $20.00 price target for the company. Morgan Stanley assumed coverage on Accelevation in a report on Monday. They issued an “equal weight” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Accelevation in a research note on Monday. They issued an “overweight” rating and a $20.00 price objective on the stock. Barclays started coverage on Accelevation in a report on Monday. They set an “overweight” rating and a $20.00 target price for the company. Finally, Wall Street Zen raised shares of Accelevation to a “hold” rating in a research report on Saturday, October 10th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.33.

Accelevation Price Performance

Shares of Accelevation stock opened at $12.38 on Monday. Accelevation has a twelve month low of $11.58 and a twelve month high of $18.10.

Insiders Place Their Bets

In related news, CEO Michael Rubiera purchased 200,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $3,600,000.00. Following the acquisition, the chief executive officer owned 1,424,285 shares in the company, valued at approximately $25,637,130. This trade represents a 16.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul D. Donahue bought 7,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were bought at an average price of $18.00 per share, for a total transaction of $126,000.00. Following the completion of the acquisition, the director owned 7,000 shares in the company, valued at approximately $126,000. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 227,700 shares of company stock worth $4,098,600.

Accelevation Company Profile

Accelevation Corporation (NASDAQ: ACCV) is a special purpose acquisition company (SPAC) formed to identify and combine with an operating business through a merger, share exchange, asset acquisition, reorganization or similar transaction.

Unlike an operating company, Accelevation does not manufacture products, provide ongoing commercial services or conduct significant business activities of its own. Its primary activities have consisted of evaluating potential acquisition targets and pursuing a business combination.

Public information about Accelevation’s operating history, geographic footprint and leadership is limited.