Evolent Health, Inc. (NYSE:EVH) Short Interest Down 13.4% in November

Evolent Health, Inc. (NYSE:EVH) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 10,820,000 shares, a decrease of 13.4% from the October 31st total of 12,490,000 shares. Based on an average daily volume of 2,230,000 shares, the days-to-cover ratio is currently 4.9 days.

Evolent Health Trading Down 6.7 %

Shares of EVH traded down $0.85 during trading on Tuesday, reaching $11.86. 1,123,009 shares of the company traded hands, compared to its average volume of 1,799,050. The stock has a 50-day simple moving average of $21.12 and a 200-day simple moving average of $23.26. The stock has a market cap of $1.38 billion, a PE ratio of -13.69 and a beta of 1.45. Evolent Health has a twelve month low of $11.17 and a twelve month high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Analyst Ratings Changes

A number of analysts have recently commented on EVH shares. JMP Securities cut their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Citigroup decreased their price objective on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their target price on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Finally, Oppenheimer lowered their price objective on Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Evolent Health currently has a consensus rating of “Buy” and an average price target of $26.18.

Institutional Trading of Evolent Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares in the last quarter. GAMMA Investing LLC grew its position in Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares in the last quarter. Quarry LP purchased a new stake in Evolent Health during the second quarter worth about $32,000. Canada Pension Plan Investment Board acquired a new stake in shares of Evolent Health during the second quarter worth about $61,000. Finally, Quest Partners LLC acquired a new stake in shares of Evolent Health during the second quarter worth about $87,000.

Evolent Health Company Profile

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.