StockNews.com Begins Coverage on Symbolic Logic (NASDAQ:EVOL)

StockNews.com assumed coverage on shares of Symbolic Logic (NASDAQ:EVOL – Get Rating) in a report issued on Friday. The brokerage set a “buy” rating on the technology company’s stock.

Shares of EVOL opened at $1.08 on Friday. The business’s fifty day simple moving average is $1.57 and its two-hundred day simple moving average is $1.99. Symbolic Logic has a 12 month low of $0.84 and a 12 month high of $3.16. The company has a market cap of $13.32 million, a price-to-earnings ratio of 18.00 and a beta of 1.57.

In other news, major shareholder Karen Singer purchased 26,143 shares of the company’s stock in a transaction dated Thursday, February 24th. The shares were purchased at an average cost of $1.77 per share, for a total transaction of $46,273.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have acquired 45,180 shares of company stock worth $80,706. Company insiders own 6.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in EVOL. Kokino LLC bought a new position in Symbolic Logic in the 4th quarter worth $2,200,000. Geode Capital Management LLC raised its holdings in Symbolic Logic by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 56,933 shares of the technology company’s stock worth $122,000 after purchasing an additional 4,083 shares during the period. Advisor Group Holdings Inc. bought a new position in Symbolic Logic in the 4th quarter worth $53,000. Citadel Advisors LLC raised its holdings in Symbolic Logic by 102.4% in the 3rd quarter. Citadel Advisors LLC now owns 21,348 shares of the technology company’s stock worth $46,000 after purchasing an additional 10,801 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Symbolic Logic in the 4th quarter worth $25,000. Hedge funds and other institutional investors own 55.96% of the company’s stock.

About Symbolic Logic (Get Rating)

Symbolic Logic, Inc, a research and development organization, focuses on developing proprietary algorithms that model and predict behaviour of dynamic systems. It is also developing a set of tools and technologies for applying symbolic content to physical objects to catalog to track real-world objects.

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