Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Short Interest Down 24.4% in March

Key Points

• Short interest dropped 24.4% to 9,205,295 shares as of March 31, implying a short-interest ratio of 2.7 days and about 5.8% of shares sold short.
• Evolv beat expectations for the quarter with $0.06 EPS vs. -$0.08 consensus and $38.5M revenue (vs. $36.44M), but remains unprofitable with a net margin of -22.71% and negative return on equity.
• Insiders have been selling shares (Director Michael Ellenbogen sold 91,771 shares in March; 253,261 shares sold in the past 90 days) while analysts' consensus is a Moderate Buy with an average price target of $9.13.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 9,205,295 shares, a drop of 24.4% from the March 15th total of 12,169,723 shares. Based on an average trading volume of 3,354,847 shares, the short-interest ratio is currently 2.7 days. Approximately 5.8% of the company's shares are sold short.

Evolv Technologies Stock Performance

Evolv Technologies stock opened at $6.30 on Wednesday. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -30.00 and a beta of 1.78. Evolv Technologies has a 12 month low of $3.10 and a 12 month high of $8.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.15. The stock's 50-day moving average is $5.58 and its 200-day moving average is $6.48.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its earnings results on Tuesday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.14. Evolv Technologies had a negative net margin of 22.71% and a negative return on equity of 30.45%. The firm had revenue of $38.50 million during the quarter, compared to the consensus estimate of $36.44 million. Equities analysts anticipate that Evolv Technologies will post -0.27 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Evolv Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Evolv Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $9.13.

Insider Transactions at Evolv Technologies

In related news, Director Michael Ellenbogen sold 91,771 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $5.10, for a total value of $468,032.10. Following the completion of the sale, the director directly owned 2,083,961 shares in the company, valued at approximately $10,628,201.10. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 253,261 shares of company stock valued at $1,410,326 in the last ninety days. 11.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds have recently made changes to their positions in the business. IFC & Insurance Marketing Inc. purchased a new stake in Evolv Technologies during the 4th quarter worth $28,000. Caitong International Asset Management Co. Ltd raised its position in Evolv Technologies by 471.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,806 shares of the company's stock valued at $49,000 after purchasing an additional 5,614 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Evolv Technologies during the third quarter worth about $60,000. FNY Investment Advisers LLC boosted its position in shares of Evolv Technologies by 48.3% in the fourth quarter. FNY Investment Advisers LLC now owns 8,897 shares of the company's stock worth $63,000 after buying an additional 2,897 shares during the period. Finally, AlphaCore Capital LLC purchased a new stake in shares of Evolv Technologies in the fourth quarter worth about $72,000. Hedge funds and other institutional investors own 66.65% of the company's stock.

Evolv Technologies Company Profile

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.

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