The stock of Evolving Systems Inc (NASDAQ:EVOL) hit a new 52-week low and has $3.39 target or 12.00% below today’s $3.85 share price. The 8 months bearish chart indicates high risk for the $43.83M company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $3.39 price target is reached, the company will be worth $5.26M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 75,926 shares traded hands or 213.58% up from the average. Evolving Systems Inc (NASDAQ:EVOL) has declined 29.93% since April 7, 2016 and is downtrending. It has underperformed by 34.71% the S&P500.
Evolving Systems Inc (NASDAQ:EVOL) Ratings Coverage
Out of 3 analysts covering Evolving Systems (NASDAQ:EVOL), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Evolving Systems has been the topic of 5 analyst reports since August 5, 2015 according to StockzIntelligence Inc. DA Davidson downgraded Evolving Systems Inc (NASDAQ:EVOL) on Wednesday, August 5 to “Neutral” rating. The firm has “Buy” rating given on Thursday, July 23 by Maxim Group. The rating was maintained by Maxim Group with “Buy” on Wednesday, August 5. The firm earned “Hold” rating on Thursday, September 3 by TheStreet. DA Davidson maintained Evolving Systems Inc (NASDAQ:EVOL) on Monday, September 14 with “Neutral” rating.
According to Zacks Investment Research, “Evolving Systems, Inc. is a leading provider of selected software solutions and services that enable telecommunications carriers to address the technical challenges to their operational support systems. The company develops, markets, sells and supports standard software products that enable established and new telecommunications companies to address local number portability requirements and the impact of LNP on such companies’ support systems. The company also provides custom software development services to leading telecommunications companies.”
Insitutional Activity: The institutional sentiment increased to 1.88 in Q2 2016. Its up 0.05, from 1.83 in 2016Q1. The ratio improved, as 4 funds sold all Evolving Systems Inc shares owned while 4 reduced positions. 3 funds bought stakes while 12 increased positions. They now own 2.97 million shares or 1.56% less from 3.02 million shares in 2016Q1.
Moreover, Northern has 0% invested in Evolving Systems Inc (NASDAQ:EVOL) for 130,475 shares. Lapides Asset Ltd Com holds 0.28% of its portfolio in Evolving Systems Inc (NASDAQ:EVOL) for 291,700 shares. Kennedy Cap Management owns 486,675 shares or 0.05% of their US portfolio. Deutsche Savings Bank Ag has 1,939 shares for 0% of their US portfolio. Tower Research Capital Limited Co (Trc) last reported 0% of its portfolio in the stock. Geode Capital Mgmt Ltd Liability Com has 0% invested in the company for 39,807 shares. California Employees Retirement last reported 0% of its portfolio in the stock. Vanguard Grp Inc has 387,893 shares for 0% of their US portfolio. Manufacturers Life The owns 197 shares or 0% of their US portfolio. National Asset Mgmt has 35,798 shares for 0.04% of their US portfolio. Invsts Cap Advisory Serv accumulated 0.06% or 60,550 shares. Blackrock Inv Ltd Llc holds 0% or 1,427 shares in its portfolio. The New York-based Morgan Stanley has invested 0% in Evolving Systems Inc (NASDAQ:EVOL). Dimensional Fund Ltd Partnership last reported 90,269 shares in the company. Renaissance Technologies Ltd Liability Co last reported 0% of its portfolio in the stock.
Insider Transactions: Since August 10, 2016, the stock had 8 buys, and 0 selling transactions for $735,640 net activity. On Monday, August 29 THEKKETHALA THOMAS bought $120,000 worth of the stock or 30,000 shares. $20,787 worth of Evolving Systems Inc (NASDAQ:EVOL) shares were bought by SINGER JULIAN D.. The insider OROS DAVID S bought $120,000.
More notable recent Evolving Systems Inc (NASDAQ:EVOL) news were published by: Streetinsider.com which released: “Evolving Systems (EVOL) Acquires Sixth Sense Media for $10M” on September 30, 2015, also Seekingalpha.com with their article: “Evolving Systems’ (EVOL) CEO Thomas Thekkethala on Q2 2016 Results – Earnings …” published on August 03, 2016, Seekingalpha.com published: “Evolving Systems’ Evolution Creates Opportunity” on December 15, 2015. More interesting news about Evolving Systems Inc (NASDAQ:EVOL) were released by: Seekingalpha.com and their article: “Put Evolving Systems On Your Radar (EVOL)” published on July 14, 2015 as well as Reuters.com‘s news article titled: “BRIEF-Evolving systems reports third quarter 2016 financial results” with publication date: November 08, 2016.
EVOL Company Profile
Evolving Systems, Inc., incorporated on January 10, 1996, is a well-known provider of software solutions for service enablement, on-device activation and management of services for connected devices for network operators around the world. The Firm is involved in developing, deploying, integrating and maintaining software solutions. The Company’s software solutions support traditional and next generation network technologies, convergent service offerings, and advanced wireless and other broadband networks. The Firm operates in two divisions based on revenue type: license fees and services revenue, and customer support revenue. The Firm offers software products and solutions in approximately five areas, including Mobile Analytics, Engagement and Advertising; Service activation solutions; Subscriber Identity Module (SIM) card activation and management solutions; Connected device solutions, and Number inventory and management solutions.
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