Short Interest in Evolus Inc (NASDAQ:EOLS) Grows By 13.6%

Evolus Inc (NASDAQ:EOLS) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 4,430,000 shares, a growth of 13.6% from the September 30th total of 3,900,000 shares. Based on an average trading volume of 407,400 shares, the days-to-cover ratio is currently 10.9 days. Approximately 27.1% of the company’s stock are short sold.

A number of institutional investors have recently added to or reduced their stakes in EOLS. Metropolitan Life Insurance Co NY bought a new position in Evolus in the first quarter valued at about $83,000. Valeo Financial Advisors LLC grew its position in Evolus by 52.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,300 shares of the company’s stock valued at $107,000 after acquiring an additional 2,500 shares during the last quarter. Edge Wealth Management LLC bought a new position in Evolus in the second quarter valued at about $29,000. Segantii Capital Management Ltd bought a new position in Evolus in the second quarter valued at about $1,097,000. Finally, Creative Planning bought a new stake in shares of Evolus during the second quarter worth about $318,000. Hedge funds and other institutional investors own 18.42% of the company’s stock.

Shares of NASDAQ:EOLS traded up $0.02 during midday trading on Friday, hitting $14.05. The stock had a trading volume of 713,600 shares, compared to its average volume of 550,871. The company has a market cap of $468.95 million, a P/E ratio of -8.95 and a beta of 4.68. The business’s 50-day simple moving average is $15.28 and its 200-day simple moving average is $16.50. Evolus has a 12 month low of $10.22 and a 12 month high of $30.25. The company has a quick ratio of 3.28, a current ratio of 3.66 and a debt-to-equity ratio of 4.53.

Evolus (NASDAQ:EOLS) last released its earnings results on Monday, November 4th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.33) by $0.55. The business had revenue of $13.17 million during the quarter, compared to the consensus estimate of $5.18 million. As a group, equities analysts predict that Evolus will post -3.8 earnings per share for the current year.

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus set a $33.00 price target on shares of Evolus and gave the stock a “buy” rating in a research note on Wednesday, July 31st. ValuEngine raised shares of Evolus from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Zacks Investment Research raised shares of Evolus from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Mizuho reaffirmed a “buy” rating and set a $30.00 price target on shares of Evolus in a research note on Thursday, September 5th. Finally, Wells Fargo & Co decreased their price target on shares of Evolus from $16.00 to $15.00 and set a “market perform” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $26.56.

About Evolus

Evolus, Inc, a performance beauty company, provides medical aesthetic products for physicians and their patients in the United States. It offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.

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