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

Evolving Systems Inc (NASDAQ:EVOL) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 68,100 shares, a decline 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 currently 2.3 days. Currently, 0.6% of the company’s stock are short sold.

An institutional investor recently raised its position in Evolving Systems stock. Vanguard Group Inc. grew its stake in shares of Evolving Systems Inc (NASDAQ:EVOL) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,037 shares of the technology company’s stock after purchasing an additional 27,095 shares during the quarter. Vanguard Group Inc. owned approximately 1.26% of Evolving Systems worth $121,000 as of its most recent SEC filing. 27.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of EVOL traded down $0.04 during midday trading on Friday, reaching $1.01. 14,700 shares of the company were exchanged, compared to its average volume of 35,134. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The company has a market cap of $12.77 million, a price-to-earnings ratio of 13.13 and a beta of 1.16. Evolving Systems has a 1-year low of $0.70 and a 1-year high of $1.66. The stock has a 50-day moving average price of $1.09 and a 200-day moving average price of $0.93.

Evolving Systems (NASDAQ:EVOL) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.02) earnings per share for the quarter. The firm had revenue of $6.11 million during 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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