Evolving Systems Inc (NASDAQ:EVOL) Sees Significant Decline in Short Interest

Evolving Systems Inc (NASDAQ:EVOL) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 68,100 shares, a decrease of 15.9% from the September 30th total of 81,000 shares. Based on an average daily volume of 30,200 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.6% of the shares of the stock are sold short.

An institutional investor recently raised its position in Evolving Systems stock. Vanguard Group Inc. boosted its position in Evolving Systems Inc (NASDAQ:EVOL) by 21.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,037 shares of the technology company’s stock after purchasing an additional 27,095 shares during the period. Vanguard Group Inc. owned about 1.26% of Evolving Systems worth $121,000 as of its most recent SEC filing. 27.69% of the stock is owned by hedge funds and other institutional investors.

EVOL stock traded down $0.04 during midday trading on Friday, hitting $1.01. The company’s stock had a trading volume of 14,700 shares, compared to its average volume of 35,134. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $1.09 and a two-hundred day moving average of $0.93. Evolving Systems has a 12 month low of $0.70 and a 12 month high of $1.66. The firm has a market capitalization of $12.77 million, a price-to-earnings ratio of 13.13 and a beta of 1.16.

Evolving Systems (NASDAQ:EVOL) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.02) EPS for the quarter. The firm had revenue of $6.11 million for the quarter. Evolving Systems had a negative net margin of 93.48% and a positive return on equity of 6.43%.

Evolving Systems Company Profile

Evolving Systems, Inc provides real-time digital engagement solutions and services to the wireless, wireline, and cable 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 Activation solution.

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