Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Short Interest Down 8.7% in March

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 7,870,000 shares, a drop of 8.7% from the March 15th total of 8,620,000 shares. Approximately 7.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is presently 5.0 days.

Insider Activity at Evolv Technologies

In other news, Director David Mounts Gonzales acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $3.86 per share, with a total value of $193,000.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $193,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Evolv Technologies news, insider Michael Ellenbogen sold 54,873 shares of Evolv Technologies stock in a transaction that occurred 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 transaction, the insider now directly owns 1,975,473 shares of the company’s stock, valued at approximately $9,956,383.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Mounts Gonzales purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $3.86 per share, for a total transaction of $193,000.00. Following the completion of the purchase, the director now directly owns 50,000 shares in the company, valued at $193,000. The disclosure for this purchase can be found here. 10.70% of the stock is currently owned by insiders.

Institutional Trading of Evolv Technologies

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Evolv Technologies by 35.3% during the second quarter. BlackRock Inc. now owns 7,068,731 shares of the company’s stock valued at $42,412,000 after acquiring an additional 1,844,116 shares during the last quarter. Vanguard Group Inc. increased its position in Evolv Technologies by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 6,786,566 shares of the company’s stock valued at $32,033,000 after acquiring an additional 256,139 shares during the last quarter. Glenview Capital Management LLC increased its position 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 valued at $26,427,000 after acquiring an additional 1,000,000 shares during the last quarter. Edge Capital Group LLC increased its position in Evolv Technologies by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 4,819,327 shares of the company’s stock valued at $22,747,000 after acquiring an additional 56,500 shares during the last quarter. Finally, Key Colony Management LLC increased its position in Evolv Technologies by 64.5% during the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after acquiring an additional 1,795,099 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Performance

Shares of EVLV stock traded down $0.09 during mid-day trading on Wednesday, hitting $3.85. The company’s stock had a trading volume of 672,948 shares, compared to its average volume of 1,495,287. Evolv Technologies has a 52-week low of $2.96 and a 52-week high of $8.30. The business has a 50-day moving average price of $4.31 and a 200 day moving average price of $4.33. The stock has a market cap of $585.89 million, a price-to-earnings ratio of -5.38 and a beta of 1.35.

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

Analyst Ratings Changes

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

Evolv Technologies Company Profile

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.