Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Short Interest Update

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 7,870,000 shares, a decrease of 8.7% from the March 15th total of 8,620,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is currently 5.0 days. Currently, 7.7% of the shares of the company are short sold.

Insider Buying and Selling at Evolv Technologies

In other news, insider Michael Ellenbogen sold 54,873 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $5.04, for a total value of $276,559.92. Following the completion of the sale, the insider now directly owns 1,975,473 shares in the company, valued at approximately $9,956,383.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Anil Chitkara sold 50,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.00, for a total value of $250,000.00. Following the transaction, the insider now directly owns 1,200,157 shares in the company, valued at $6,000,785. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Ellenbogen sold 54,873 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $5.04, for a total value of $276,559.92. Following the completion of the transaction, the insider now directly owns 1,975,473 shares of the company’s stock, valued at approximately $9,956,383.92. The disclosure for this sale can be found here. 10.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evolv Technologies

Large investors have recently bought and sold shares of the business. Sapient Capital LLC purchased a new position in shares of Evolv Technologies in the 4th quarter worth $3,188,000. HighTower Advisors LLC grew its position in Evolv Technologies by 1.5% in the third quarter. HighTower Advisors LLC now owns 171,397 shares of the company’s stock worth $833,000 after acquiring an additional 2,489 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Evolv Technologies during the third quarter worth approximately $2,138,000. Key Colony Management LLC raised its position in Evolv Technologies by 157.8% during the fourth quarter. Key Colony Management LLC now owns 2,781,928 shares of the company’s stock valued at $13,131,000 after purchasing an additional 1,702,928 shares during the period. Finally, Quent Capital LLC lifted its stake in shares of Evolv Technologies by 53.8% in the 4th quarter. Quent Capital LLC now owns 20,000 shares of the company’s stock valued at $94,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Performance

Shares of EVLV traded down $0.04 during midday trading on Tuesday, hitting $3.94. 846,567 shares of the company traded hands, compared to its average volume of 1,507,851. The stock has a market cap of $599.59 million, a price-to-earnings ratio of -5.40 and a beta of 1.35. The firm has a 50 day moving average of $4.31 and a 200-day moving average of $4.33. Evolv Technologies has a 52 week low of $2.96 and a 52 week high of $8.30.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. The business had revenue of $21.82 million during the quarter, compared to analysts’ expectations of $18.81 million. Evolv Technologies had a negative return on equity of 47.56% and a negative net margin of 132.13%. Sell-side analysts predict that Evolv Technologies will post -0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price target on shares of Evolv Technologies in a research note on Thursday, March 28th.

About Evolv Technologies

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally. 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.