Accelevation (NASDAQ:ACCV) Announces Quarterly Earnings Results

Accelevation (NASDAQ:ACCV) released its quarterly earnings results on Thursday. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12, Zacks reports.

Accelevation Price Performance

Shares of NASDAQ ACCV traded up $0.30 during trading hours on Thursday, reaching $12.21. 1,249,427 shares of the stock traded hands, compared to its average volume of 1,922,189. Accelevation has a 52-week low of $9.54 and a 52-week high of $18.10.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ACCV. Morgan Stanley started coverage on Accelevation in a research report on Monday, October 26th. They issued an “equal weight” rating and a $18.00 price objective on the stock. Wolfe Research assumed coverage on Accelevation in a research report on Monday, October 26th. They set an “outperform” rating for the company. William Blair set a $20.00 target price on Accelevation in a research note on Monday, October 26th. Zacks Research initiated coverage on Accelevation in a report on Tuesday, October 27th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group started coverage on Accelevation in a research report on Monday, October 26th. They set a “buy” rating and a $22.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.43.

Insiders Place Their Bets

In other Accelevation news, Director Howard Heckes purchased 5,000 shares of Accelevation 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 $90,000.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $90,000. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ginger Jones purchased 10,000 shares of Accelevation stock in a transaction on Thursday, October 1st. The shares were acquired at an average price of $18.00 per share, for a total transaction of $180,000.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $180,000. 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 227,700 shares of company stock valued at $4,098,600 over the last 90 days.

About Accelevation

Accelevation Holdings Corp. designs, manufactures and installs customized structural, electrical and mechanical systems for mission-critical infrastructure. The company primarily serves data centers, including facilities supporting artificial intelligence, cloud computing, hyperscale computing and other high-density technology applications. The company’s products and solutions include power distribution equipment, modular infrastructure systems, structural support components, thermal management products and related electrical systems.