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

Evolent Health, Inc. (NYSE:EVH) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 12,380,000 shares, a growth of 7.3% from the May 31st total of 11,540,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is presently 10.0 days.

Evolent Health Trading Up 2.5 %

Shares of Evolent Health stock traded up $0.49 during midday trading on Wednesday, reaching $19.74. 1,283,505 shares of the company’s stock traded hands, compared to its average volume of 1,214,670. The company has a market cap of $2.29 billion, a PE ratio of -15.79 and a beta of 1.54. The stock has a 50 day moving average of $23.35 and a 200-day moving average of $28.72. Evolent Health has a 12 month low of $17.98 and a 12 month high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. The firm had revenue of $639.65 million during the quarter, compared to analysts’ expectations of $601.60 million. As a group, equities analysts expect that Evolent Health will post 0.9 EPS for the current fiscal year.

Institutional Trading of Evolent Health

Several large investors have recently bought and sold shares of EVH. ICA Group Wealth Management LLC bought a new position in shares of Evolent Health in the 4th quarter worth about $33,000. Headlands Technologies LLC bought a new position in shares of Evolent Health during the first quarter valued at approximately $46,000. Signaturefd LLC increased its stake 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 valued at $48,000 after purchasing an additional 1,353 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $69,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Evolent Health in the 1st quarter worth approximately $88,000.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JMP Securities lowered their price target on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. Citigroup started coverage on Evolent Health in a research note on Monday, April 22nd. They issued a “buy” rating and a $40.00 target price for the company. Canaccord Genuity Group reduced their price target on Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.