Short Interest in Evolving Systems Inc (NASDAQ:EVOL) Increases By 200.0%

Evolving Systems Inc (NASDAQ:EVOL) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 22,500 shares, a growth of 200.0% from the April 30th total of 7,500 shares. Based on an average daily trading volume, of 31,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the company’s shares are sold short.

Separately, TheStreet downgraded Evolving Systems from a “c-” rating to a “d” rating in a report on Friday, April 5th.

Several hedge funds have recently bought and sold shares of EVOL. Deutsche Bank AG grew its stake in Evolving Systems by 53.1% during the 4th quarter. Deutsche Bank AG now owns 53,086 shares of the technology company’s stock worth $62,000 after purchasing an additional 18,415 shares in the last quarter. 22NW LP acquired a new position in Evolving Systems during the 4th quarter worth $26,000. Finally, Perritt Capital Management Inc. grew its stake in Evolving Systems by 8.7% during the 4th quarter. Perritt Capital Management Inc. now owns 329,925 shares of the technology company’s stock worth $391,000 after purchasing an additional 26,375 shares in the last quarter. Hedge funds and other institutional investors own 29.16% of the company’s stock.

Shares of EVOL stock traded up $0.01 on Monday, hitting $0.89. The stock had a trading volume of 1,322 shares, compared to its average volume of 13,887. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.32 and a quick ratio of 1.11. The firm has a market capitalization of $10.77 million, a price-to-earnings ratio of 5.21 and a beta of 1.17. Evolving Systems has a 1 year low of $0.83 and a 1 year high of $3.40. The firm has a 50 day moving average of $0.96.

Evolving Systems (NASDAQ:EVOL) last posted its quarterly earnings data on Wednesday, May 15th. The technology company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $6.70 million during the quarter. Evolving Systems had a negative net margin of 56.17% and a positive return on equity of 8.08%.

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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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