Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Insider Michael Ellenbogen Sells 83,334 Shares

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) insider Michael Ellenbogen sold 83,334 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $5.63, for a total value of $469,170.42. Following the completion of the sale, the insider now owns 2,307,224 shares of the company’s stock, valued at $12,989,671.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Michael Ellenbogen also recently made the following trade(s):

• On Wednesday, August 16th, Michael Ellenbogen sold 83,334 shares of Evolv Technologies stock. The shares were sold at an average price of $7.26, for a total value of $605,004.84.

Evolv Technologies Price Performance

NASDAQ:EVLV traded down $0.11 on Tuesday, reaching $5.51. 2,011,831 shares of the company’s stock were exchanged, compared to its average volume of 1,179,663. The stock has a fifty day simple moving average of $4.43 and a 200-day simple moving average of $2.11. Evolv Technologies Holdings, Inc. has a 52 week low of $1.98 and a 52 week high of $8.30. The firm has a market cap of $826.44 million, a price-to-earnings ratio of -5.54 and a beta of 1.28.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Evolv Technologies had a negative return on equity of 45.24% and a negative net margin of 187.36%. The business had revenue of $19.83 million during the quarter, compared to the consensus estimate of $14.19 million. As a group, sell-side analysts predict that Evolv Technologies Holdings, Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Evolv Technologies from $2.00 to $5.00 and gave the stock a “hold” rating in a report on Friday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.60 price objective on shares of Evolv Technologies in a research note on Thursday, September 14th. Finally, Craig Hallum raised their target price on Evolv Technologies from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 11th.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds have recently made changes to their positions in the stock. Bleakley Financial Group LLC purchased a new stake in Evolv Technologies during the 2nd quarter worth about $64,000. Ameritas Investment Partners Inc. increased its position in shares of Evolv Technologies by 47.6% during the second quarter. Ameritas Investment Partners Inc. now owns 9,305 shares of the company’s stock valued at $56,000 after buying an additional 3,001 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Evolv Technologies by 117.1% in the second quarter. Tower Research Capital LLC TRC now owns 8,642 shares of the company’s stock worth $52,000 after buying an additional 4,661 shares in the last quarter. State of Wyoming boosted its position in shares of Evolv Technologies by 100.1% in the second quarter. State of Wyoming now owns 5,558 shares of the company’s stock valued at $33,000 after acquiring an additional 2,780 shares during the period. Finally, Bienville Capital Management LLC grew its stake in Evolv Technologies by 76.7% during the second quarter. Bienville Capital Management LLC now owns 89,802 shares of the company’s stock valued at $539,000 after acquiring an additional 38,970 shares in the last quarter. 52.15% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Company Profile

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives; and Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics.