Shares of Evolving Systems Inc. (NASDAQ:EVOL) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.03 and last traded at $4.13, with a volume of 50,879 shares traded. The stock had previously closed at $4.09.

A number of analysts have recently issued reports on the stock. Maxim Group increased their price target on shares of Evolving Systems from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, May 4th. Zacks Investment Research lowered shares of Evolving Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.75.

The stock has a market cap of $48.99 million and a PE ratio of 17.29. The company has a 50-day moving average price of $5.09 and a 200-day moving average price of $5.34.

An institutional investor recently raised its position in Evolving Systems stock. Lapides Asset Management LLC increased its stake in Evolving Systems Inc. (NASDAQ:EVOL) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,600 shares of the company’s stock after buying an additional 47,600 shares during the period. Lapides Asset Management LLC owned about 2.65% of Evolving Systems worth $1,708,000 as of its most recent filing with the SEC.

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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