Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Sees Large Increase in Short Interest

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 12,210,000 shares, an increase of 9.6% from the June 30th total of 11,140,000 shares. Currently, 11.5% of the company’s stock are sold short. Based on an average trading volume of 1,600,000 shares, the days-to-cover ratio is presently 7.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EVLV. Key Colony Management LLC boosted its stake in Evolv Technologies by 64.5% during the 1st quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after purchasing an additional 1,795,099 shares in the last quarter. Glenview Capital Management LLC grew its holdings in Evolv Technologies by 21.7% during the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock worth $26,427,000 after acquiring an additional 1,000,000 shares during the period. Sapient Capital LLC bought a new stake in Evolv Technologies in the fourth quarter worth about $3,188,000. Silvercrest Asset Management Group LLC acquired a new stake in Evolv Technologies in the 1st quarter valued at about $2,897,000. Finally, Vanguard Group Inc. boosted its position in shares of Evolv Technologies by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after purchasing an additional 407,396 shares in the last quarter. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Trading Up 2.7 %

Shares of EVLV opened at $3.47 on Thursday. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $8.30. The stock has a 50 day moving average of $2.75 and a 200-day moving average of $3.64.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.06. Evolv Technologies had a negative net margin of 106.93% and a negative return on equity of 45.57%. The firm had revenue of $21.67 million during the quarter, compared to analyst estimates of $23.17 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. Analysts expect that Evolv Technologies will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EVLV shares. Craig Hallum assumed coverage on Evolv Technologies in a research note on Monday, May 20th. They set a “buy” rating and a $5.75 price objective for the company. TD Cowen cut their price target on shares of Evolv Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Lake Street Capital lowered shares of Evolv Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $6.00 to $3.50 in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.65.

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.