Accelevation (NASDAQ:ACCV) Shares Gap Up After Strong Earnings

Shares of Accelevation Holdings Corp. (NASDAQ:ACCV) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.21, but opened at $13.92. Accelevation shares last traded at $13.25, with a volume of 148,101 shares.

The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.12.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ACCV shares. Wall Street Zen raised Accelevation to a “hold” rating in a research note on Saturday, October 10th. Wolfe Research initiated coverage on shares of Accelevation in a research note on Monday, October 26th. They issued an “outperform” rating on the stock. 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 price target for the company. Zacks Research began coverage on shares of Accelevation in a research report on Tuesday, October 27th. They set a “hold” rating for the company. Finally, William Blair set a $20.00 price objective on shares of Accelevation in a research report on Monday, October 26th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.43.

Insider Activity at Accelevation

In other Accelevation news, CEO Michael Rubiera bought 200,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was acquired at an average price of $18.00 per share, with a total value of $3,600,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,424,285 shares of the company’s stock, valued at $25,637,130. This 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 is available through this hyperlink. Also, COO Brent Jewell bought 2,500 shares of Accelevation stock in a transaction dated Thursday, October 1st. The stock was acquired at an average price of $18.00 per share, with a total value of $45,000.00. Following the completion of the transaction, the chief operating officer directly owned 304,068 shares of the company’s stock, valued at approximately $5,473,224. The trade was a 0.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 227,700 shares of company stock worth $4,098,600 over the last 90 days.

Accelevation Trading Up 4.8%

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.