Evolving Systems, Inc. (NASDAQ:EVOL) Short Interest Update

Evolving Systems, Inc. (NASDAQ:EVOLGet Rating) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 5,900 shares, an increase of 73.5% from the March 15th total of 3,400 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is currently ∞ days.

Shares of EVOL stock traded down $0.32 during trading on Friday, reaching $1.45. The company had a trading volume of 595,399 shares, compared to its average volume of 58,029. The firm’s 50 day simple moving average is $1.83 and its two-hundred day simple moving average is $2.15. Evolving Systems has a one year low of $1.36 and a one year high of $3.16. The company has a market capitalization of $17.88 million, a PE ratio of 24.17 and a beta of 1.29.

In other news, major shareholder Karen Singer purchased 162,322 shares of Evolving Systems stock in a transaction dated Monday, January 31st. The stock was acquired at an average cost of $1.80 per share, for a total transaction of $292,179.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have bought 390,318 shares of company stock valued at $711,095. 6.70% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Evolving Systems by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 56,933 shares of the technology company’s stock valued at $122,000 after acquiring an additional 4,083 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Evolving Systems by 102.4% in the 3rd quarter. Citadel Advisors LLC now owns 21,348 shares of the technology company’s stock valued at $46,000 after acquiring an additional 10,801 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Evolving Systems in the 4th quarter valued at approximately $25,000. Advisor Group Holdings Inc. bought a new position in shares of Evolving Systems in the 4th quarter valued at approximately $53,000. Finally, Kokino LLC bought a new position in shares of Evolving Systems in the 4th quarter valued at approximately $2,200,000. 45.89% of the stock is currently owned by institutional investors and hedge funds.

Separately, StockNews.com started coverage on Evolving Systems in a report on Monday, April 11th. They set a “buy” rating for the company.

About Evolving Systems (Get Rating)

Evolving Systems, Inc provides real-time digital engagement solutions and services to the wireless carrier and consumer financial service markets in the United Kingdom and internationally. The company offers acquisition and activation solutions, including Smart Dealer, a tool set that enables SIM retailers to sell SIM cards; and Dynamic SIM Allocation, a SIM/eSIM activation solution.

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