Evolving Systems (NASDAQ:EVOL) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Evolving Systems (NASDAQ:EVOL – Get Rating) in a report released on Wednesday morning. The firm issued a buy rating on the technology company’s stock.

NASDAQ EVOL opened at $1.05 on Wednesday. The firm has a market cap of $12.95 million, a PE ratio of 17.50 and a beta of 1.29. Evolving Systems has a one year low of $0.92 and a one year high of $3.16. The stock’s 50 day simple moving average is $1.74 and its 200 day simple moving average is $2.10.

In other Evolving Systems news, major shareholder Karen Singer purchased 26,143 shares of the firm’s stock in a transaction that occurred on Thursday, February 24th. The shares were acquired at an average cost of $1.77 per share, for a total transaction of $46,273.11. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have purchased 220,100 shares of company stock worth $396,191. 6.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in Evolving Systems during the 4th quarter worth approximately $25,000. Citadel Advisors LLC lifted its holdings in Evolving Systems by 102.4% during the 3rd quarter. Citadel Advisors LLC now owns 21,348 shares of the technology company’s stock worth $46,000 after buying an additional 10,801 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Evolving Systems during the 4th quarter worth $53,000. Geode Capital Management LLC lifted its holdings in Evolving Systems by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 56,933 shares of the technology company’s stock worth $122,000 after buying an additional 4,083 shares in the last quarter. Finally, Kokino LLC acquired a new position in Evolving Systems during the 4th quarter worth $2,200,000. Institutional investors and hedge funds own 45.89% of the company’s stock.

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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