Evolent Health, Inc. (NYSE:EVH) Short Interest Update

Evolent Health, Inc. (NYSE:EVH) was the recipient 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 volume of 2,580,000 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares in the last quarter. Engaged Capital LLC increased its position in shares of Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after acquiring an additional 850,000 shares during the period. Eventide Asset Management LLC increased its position in shares of Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after acquiring an additional 64,985 shares during the period. Finally, State Street Corp raised its stake in shares of Evolent Health by 1.0% in the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after acquiring an additional 25,967 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EVH. JPMorgan Chase & Co. lowered their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Stephens cut shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $38.00 to $16.00 in a research report on Friday, November 8th. KeyCorp initiated coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Oppenheimer decreased their target price on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Finally, Barclays cut their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $26.18.

Evolent Health Trading Up 2.5 %

Evolent Health stock traded up $0.27 during trading on Wednesday, hitting $11.25. The company had a trading volume of 1,603,900 shares, compared to its average volume of 1,851,536. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -12.36 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 1-year low of $10.53 and a 1-year high of $35.00. The company’s 50 day simple moving average is $14.72 and its 200-day simple moving average is $21.57.

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.