Short Interest in Evolus, Inc. (NASDAQ:EOLS) Decreases By 20.8%

Key Points

• Evolus, Inc. has seen a significant decrease in short interest, down 20.8% in August, with 10,680,000 shares sold short as of August 15th.
• The stock's current price is $7.58, which is a 0.4% decline from the previous trading session.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Evolus, with a consensus target price of $21.25.

Evolus, Inc. (NASDAQ:EOLS - Get Free Report) saw a large drop in short interest in August. As of August 15th, there was short interest totaling 10,680,000 shares, a drop of 20.8% from the July 31st total of 13,480,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is currently 7.5 days. Approximately 21.1% of the company's shares are sold short. Approximately 21.1% of the company's shares are sold short. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is currently 7.5 days.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BTIG Research reiterated a "buy" rating and issued a $18.00 target price on shares of Evolus in a report on Monday, September 8th. HC Wainwright lowered their price objective on shares of Evolus from $27.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Evolus from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Needham & Company LLC restated a "hold" rating and issued a $22.00 price target on shares of Evolus in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

Evolus Stock Down 4.3%

Shares of NASDAQ:EOLS traded down $0.32 during trading on Friday, reaching $7.19. The stock had a trading volume of 707,868 shares, compared to its average volume of 864,454. The firm's 50-day simple moving average is $8.08 and its 200 day simple moving average is $9.96. The company has a current ratio of 2.27, a quick ratio of 1.86 and a debt-to-equity ratio of 22.00. Evolus has a one year low of $5.71 and a one year high of $17.82. The company has a market capitalization of $465.05 million, a P/E ratio of -7.34 and a beta of 1.07.

Insider Buying and Selling at Evolus

In related news, CMO Tomoko Yamagishi-Dressler sold 5,722 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $7.51, for a total value of $42,972.22. Following the completion of the sale, the chief marketing officer owned 89,949 shares in the company, valued at approximately $675,516.99. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brady Stewart acquired 30,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $6.82 per share, for a total transaction of $204,600.00. Following the purchase, the director owned 88,629 shares of the company's stock, valued at $604,449.78. This represents a 51.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evolus

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Evolus by 13.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,593 shares of the company's stock valued at $581,000 after purchasing an additional 6,332 shares during the last quarter. Northern Trust Corp increased its position in Evolus by 9.3% during the 4th quarter. Northern Trust Corp now owns 531,167 shares of the company's stock valued at $5,864,000 after buying an additional 45,384 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Evolus by 62.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 34,700 shares of the company's stock valued at $383,000 after buying an additional 13,363 shares during the last quarter. Comerica Bank acquired a new position in shares of Evolus during the fourth quarter valued at about $312,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Evolus by 11.4% in the fourth quarter. Ameriprise Financial Inc. now owns 80,446 shares of the company's stock worth $888,000 after buying an additional 8,214 shares during the last quarter. 90.69% of the stock is owned by hedge funds and other institutional investors.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.