CenterBook Partners LP Sells 458,471 Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Key Points

• CenterBook Partners LP has sold 458,471 shares of Evolv Technologies Holdings, Inc., decreasing its holdings by 15.2% to approximately 2.55 million shares.
• Several other institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Mariner LLC, have adjusted their positions in Evolv Technologies, indicating significant interest from large investors.
• Evolv Technologies reported earnings per share of ($0.01), surpassing estimates, with a revenue of $32.01 million for the quarter, which also exceeded analysts' expectations.

CenterBook Partners LP decreased its position in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,550,172 shares of the company's stock after selling 458,471 shares during the period. CenterBook Partners LP owned 1.56% of Evolv Technologies worth $7,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in shares of Evolv Technologies in the fourth quarter valued at $40,000. Teacher Retirement System of Texas bought a new position in shares of Evolv Technologies in the first quarter valued at $50,000. KLP Kapitalforvaltning AS bought a new position in shares of Evolv Technologies in the fourth quarter valued at $73,000. Ameriprise Financial Inc. bought a new position in shares of Evolv Technologies in the fourth quarter valued at $74,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Evolv Technologies in the fourth quarter valued at $75,000. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Trading Up 4.4%

NASDAQ:EVLV traded up $0.31 during trading hours on Friday, hitting $7.29. 3,738,531 shares of the stock traded hands, compared to its average volume of 2,541,612. The firm has a 50 day moving average price of $6.01 and a 200 day moving average price of $4.59. Evolv Technologies Holdings, Inc. has a fifty-two week low of $2.04 and a fifty-two week high of $7.32. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -26.03 and a beta of 1.70.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.07. Evolv Technologies had a negative net margin of 38.97% and a negative return on equity of 34.13%. The business had revenue of $32.01 million for the quarter, compared to analysts' expectations of $26.40 million. Research analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on EVLV shares. Cantor Fitzgerald raised Evolv Technologies to a "strong-buy" rating in a report on Wednesday, May 21st. Northland Capmk raised Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Lake Street Capital boosted their target price on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Finally, Northland Securities raised shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 target price on the stock in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $6.50.

Evolv Technologies 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.