Evolving Systems Inc. (NASDAQ:EVOL)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $4.02 and last traded at $4.02, with a volume of 62,968 shares changing hands. The stock had previously closed at $4.04.

Several brokerages recently commented on EVOL. Maxim Group upped their price target on shares of Evolving Systems from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, May 4th. Zacks Investment Research downgraded shares of Evolving Systems from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.75.

The company has a market cap of $47.46 million and a price-to-earnings ratio of 16.75. The company has a 50-day moving average price of $4.64 and a 200 day moving average price of $5.23.

In other Evolving Systems news, Director Julian D. Singer purchased 8,982 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were purchased at an average cost of $4.12 per share, with a total value of $37,005.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julian D. Singer purchased 19,900 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was acquired at an average cost of $4.20 per share, for a total transaction of $83,580.00. The disclosure for this purchase can be found here.

Evolving Systems, Inc is a provider of software solutions for service enablement, on-device activation and management of services for connected devices for network operators. The Company operates in two segments: license fees and services revenue, and customer support revenue. Its service activation solution, Tertio is used to activate voice, video and data services for wireless, wireline and cable network operators.

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