Short Interest in Evolving Systems Inc (NASDAQ:EVOL) Increases By 33.7%

Evolving Systems Inc (NASDAQ:EVOL) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 13,100 shares, an increase of 33.7% from the June 30th total of 9,800 shares. Based on an average daily volume of 61,100 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

NASDAQ EVOL traded up $0.09 during trading hours on Friday, reaching $1.35. The company’s stock had a trading volume of 307,236 shares, compared to its average volume of 35,620. Evolving Systems has a fifty-two week low of $0.56 and a fifty-two week high of $1.60. The company’s 50-day moving average is $1.14 and its two-hundred day moving average is $0.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.44 and a quick ratio of 1.24.

Evolving Systems (NASDAQ:EVOL) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $0.02 earnings per share for the quarter. Evolving Systems had a negative net margin of 33.98% and a negative return on equity of 12.03%. The business had revenue of $6.29 million for the quarter.

A hedge fund recently raised its stake in Evolving Systems stock. Renaissance Technologies LLC raised its stake in Evolving Systems Inc (NASDAQ:EVOL) by 5.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 753,215 shares of the technology company’s stock after buying an additional 39,060 shares during the quarter. Renaissance Technologies LLC owned approximately 6.19% of Evolving Systems worth $673,000 as of its most recent SEC filing. 12.38% of the stock is currently owned by institutional investors and hedge funds.

About Evolving Systems

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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