Short Interest in Evolent Health, Inc. (NYSE:EVH) Drops By 7.1%

Evolent Health, Inc. (NYSE:EVH) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 9,760,000 shares, a drop of 7.1% from the November 30th total of 10,510,000 shares. Based on an average daily trading volume, of 2,580,000 shares, the short-interest ratio is currently 3.8 days.

Institutional Trading of Evolent Health

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Evolent Health by 3.2% during the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock worth $298,000 after buying an additional 480 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Evolent Health by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock worth $556,000 after acquiring an additional 649 shares during the last quarter. Covestor Ltd boosted its position in shares of Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares during the period. Finally, Quarry LP acquired a new stake in Evolent Health during the second quarter worth about $32,000.

Evolent Health Price Performance

Shares of NYSE EVH traded down $0.15 during trading on Monday, hitting $10.98. The company had a trading volume of 1,259,527 shares, compared to its average volume of 1,852,522. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -12.07 and a beta of 1.45. The stock has a fifty day simple moving average of $15.20 and a two-hundred day simple moving average of $21.73. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a fifty-two week low of $10.53 and a fifty-two week high of $35.00.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EVH shares. JPMorgan Chase & Co. reduced their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a research note on Tuesday, November 12th. Oppenheimer cut their price objective on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, November 18th. BTIG Research decreased their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Barclays dropped their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $26.18.

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.