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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of a significant drop in short interest during the month of 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. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is currently 5.0 days. Currently, 7.7% of the shares of the company are short sold.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, insider Anil Chitkara sold 50,000 shares of the firm’s 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 $6,000,785. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Anil Chitkara sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the completion of the sale, the insider now owns 1,200,157 shares in the company, valued at $6,000,785. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Ellenbogen sold 54,873 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $5.04, for a total transaction of $276,559.92. Following the completion of the sale, the insider now 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. Corporate insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Evolv Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sapient Capital LLC purchased a new stake in Evolv Technologies in the 4th quarter worth approximately $3,188,000. HighTower Advisors LLC grew its stake in Evolv Technologies by 1.5% in the 3rd quarter. HighTower Advisors LLC now owns 171,397 shares of the company’s stock worth $833,000 after acquiring an additional 2,489 shares during the period. Nomura Holdings Inc. purchased a new stake in Evolv Technologies in the 3rd quarter worth approximately $2,138,000. Key Colony Management LLC grew its stake in shares of Evolv Technologies by 157.8% during the 4th quarter. Key Colony Management LLC now owns 2,781,928 shares of the company’s stock valued at $13,131,000 after buying an additional 1,702,928 shares during the period. Finally, Quent Capital LLC grew its stake in shares of Evolv Technologies by 53.8% during the 4th quarter. Quent Capital LLC now owns 20,000 shares of the company’s stock valued at $94,000 after buying an additional 7,000 shares during the period. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Evolv Technologies Price Performance

Shares of EVLV stock traded down $0.09 during midday trading on Wednesday, reaching $3.85. 672,948 shares of the company traded hands, compared to its average volume of 1,495,287. The firm’s 50 day simple moving average is $4.31 and its two-hundred day simple moving average is $4.33. Evolv Technologies has a 1-year low of $2.96 and a 1-year high of $8.30. The firm has a market cap of $585.89 million, a PE 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate 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.

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.