Accelevation (NASDAQ:ACCV) Stock Falls 15.3% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several brokerages have commented on ACCV. JPMorgan Chase & Co. assumed coverage on Accelevation in a research note on Monday, October 26th. They set an “overweight” rating and a $20.00 target price on the stock. Robert W. Baird began coverage on shares of Accelevation in a research note on Monday, October 26th. They issued an “outperform” rating and a $16.00 price objective on the stock. William Blair set a $20.00 price objective on shares of Accelevation in a report on Monday, October 26th. 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. Finally, Wall Street Zen raised shares of Accelevation to a “hold” rating in a report on Saturday, October 10th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Accelevation has an average rating of “Moderate Buy” and an average target price of $19.43.

Accelevation Price Performance

Insider Buying and Selling at Accelevation

In other Accelevation news, CEO Michael Rubiera bought 200,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were bought 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 directly owned 1,424,285 shares in the company, valued at approximately $25,637,130. The trade was a 16.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ginger M. Jones acquired 10,000 shares of Accelevation stock in a transaction that occurred on Thursday, October 1st. The stock was acquired at an average cost of $18.00 per share, with a total value of $180,000.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $180,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 227,700 shares of company stock valued at $4,098,600.

Accelevation Company Profile

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