Short Interest in Evolent Health, Inc. (NYSE:EVH) Increases By 7.3%

Evolent Health, Inc. (NYSE:EVH) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 11,380,000 shares, a growth of 7.3% from the March 31st total of 10,610,000 shares. Based on an average daily trading volume, of 934,800 shares, the days-to-cover ratio is currently 12.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new position in Evolent Health in the fourth quarter valued at about $33,000. Signaturefd LLC grew its holdings in shares of Evolent Health by 1,470.7% during the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,353 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Evolent Health during the fourth quarter worth about $69,000. Banque Cantonale Vaudoise bought a new stake in shares of Evolent Health during the first quarter worth about $88,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Evolent Health by 389.3% during the third quarter. Nisa Investment Advisors LLC now owns 5,035 shares of the technology company’s stock worth $137,000 after purchasing an additional 4,006 shares during the last quarter.

Evolent Health Stock Performance

Evolent Health stock opened at $27.27 on Thursday. Evolent Health has a 12-month low of $23.33 and a 12-month high of $36.42. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $31.65 and its two-hundred day moving average price is $30.29.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. The firm had revenue of $556.06 million for the quarter, compared to analysts’ expectations of $541.87 million. On average, sell-side analysts predict that Evolent Health will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Oppenheimer assumed coverage on Evolent Health in a report on Friday, March 1st. They set an “outperform” rating and a $45.00 target price for the company. William Blair reissued an “outperform” rating on shares of Evolent Health in a report on Tuesday, January 9th. Barclays assumed coverage on Evolent Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $39.00 target price for the company. Citigroup assumed coverage on Evolent Health in a report on Monday, April 22nd. They set a “buy” rating and a $40.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Evolent Health currently has a consensus rating of “Moderate Buy” and an average target price of $42.70.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.