Short Interest in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Rises By 8.8%

Evolv Technologies Holdings, Inc. (NASDAQ:EVLVGet Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 8,620,000 shares, an increase of 8.8% from the February 29th total of 7,920,000 shares. Based on an average trading volume of 1,250,000 shares, the days-to-cover ratio is currently 6.9 days. Currently, 8.4% of the shares of the company are short sold.

Insider Buying and Selling at Evolv Technologies

In related news, insider Michael Ellenbogen sold 54,873 shares of Evolv Technologies stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $5.04, for a total value of $276,559.92. Following the sale, the insider now owns 1,975,473 shares of the company’s stock, valued at approximately $9,956,383.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael Ellenbogen sold 54,873 shares of the business’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 sale, the insider now directly owns 1,975,473 shares in the company, valued at approximately $9,956,383.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil Chitkara sold 50,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. Following the transaction, the insider now owns 1,200,157 shares of the company’s stock, valued at approximately $6,000,785. The disclosure for this sale can be found here. Insiders have sold a total of 146,540 shares of company stock worth $702,395 over the last three months. 10.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evolv Technologies

Several institutional investors have recently modified their holdings of EVLV. State of Wyoming lifted its holdings in 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. Qube Research & Technologies Ltd bought a new position in shares of Evolv Technologies in the third quarter worth about $48,000. Victory Capital Management Inc. bought a new position in shares of Evolv Technologies in the third quarter worth about $49,000. Worth Financial Advisory Group LLC purchased a new position in shares of Evolv Technologies during the 4th quarter valued at about $50,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Evolv Technologies by 117.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,642 shares of the company’s stock valued at $52,000 after acquiring an additional 4,661 shares during the period. 66.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Read Our Latest Report on Evolv Technologies

Evolv Technologies Stock Performance

EVLV stock traded down $0.06 on Wednesday, reaching $4.99. The company’s stock had a trading volume of 500,757 shares, compared to its average volume of 1,514,295. The business has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $4.37. The firm has a market cap of $759.38 million, a PE ratio of -6.92 and a beta of 1.35. Evolv Technologies has a 12-month low of $2.80 and a 12-month high of $8.30.

Evolv Technologies (NASDAQ:EVLVGet Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. Evolv Technologies had a negative net margin of 132.13% and a negative return on equity of 47.56%. The company had revenue of $21.82 million during the quarter, compared to analyst estimates of $18.81 million. As a group, research analysts anticipate that Evolv Technologies will post -0.48 earnings per share for the current fiscal year.

About Evolv Technologies

(Get Free Report)

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.

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