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 cut its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Evolv Technologies by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company's stock valued at $296,000 after purchasing an additional 3,276 shares during the last quarter. Mariner LLC lifted its position in shares of Evolv Technologies by 15.9% in the fourth quarter. Mariner LLC now owns 26,532 shares of the company's stock valued at $105,000 after buying an additional 3,639 shares during the last quarter. Sapient Capital LLC lifted its position in shares of Evolv Technologies by 0.7% in the first quarter. Sapient Capital LLC now owns 735,049 shares of the company's stock valued at $2,293,000 after buying an additional 5,000 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Evolv Technologies by 5.3% in the first quarter. Rhumbline Advisers now owns 178,391 shares of the company's stock valued at $557,000 after buying an additional 8,967 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Evolv Technologies by 12.4% in the fourth quarter. MetLife Investment Management LLC now owns 86,630 shares of the company's stock valued at $342,000 after buying an additional 9,575 shares during the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

Evolv Technologies Price Performance

Evolv Technologies stock traded down $0.02 during mid-day trading on Monday, reaching $7.28. 1,060,382 shares of the company were exchanged, compared to its average volume of 2,283,371. The company has a fifty day simple moving average of $6.01 and a 200-day simple moving average of $4.60. Evolv Technologies Holdings, Inc. has a 12 month low of $2.04 and a 12 month high of $7.45. The firm has a market cap of $1.19 billion, a PE ratio of -25.98 and a beta of 1.70.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.07. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. The firm had revenue of $32.01 million for the quarter, compared to analyst estimates of $26.40 million. Sell-side analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

EVLV has been the subject of a number of recent analyst reports. Northland Securities raised Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective for the company in a research report on Wednesday, May 21st. Cantor Fitzgerald raised Evolv Technologies to a "strong-buy" rating in a research report on Wednesday, May 21st. Lake Street Capital raised their price objective on Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Wall Street Zen upgraded Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Northland Capmk upgraded Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Evolv Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

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.