Evolv Technologies Holdings, Inc. $EVLV Stock Sold by CenterBook Partners LP

Key Points

• CenterBook Partners cut its Evolv Technologies stake by 45.6% in the third quarter, selling 555,739 shares and retaining 662,968 shares valued at about $3.1 million. Institutional investors and hedge funds collectively own 66.65% of the stock.
• Analysts have a Moderate Buy consensus, with an average price target of $9.81; four analysts rate the stock Buy, one Hold, and one Sell.
• Evolv’s latest quarter showed mixed results: revenue of $43.75 million exceeded estimates, while its loss of $0.05 per share was wider than the $0.03 loss analysts expected. A company director also bought 19,100 shares at $4.96 each.

CenterBook Partners LP cut its stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 45.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 662,968 shares of the company's stock after selling 555,739 shares during the period. CenterBook Partners LP owned about 0.37% of Evolv Technologies worth $3,083,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Platform Technology Partners increased its position in shares of Evolv Technologies by 4.8% during the third quarter. Platform Technology Partners now owns 145,755 shares of the company's stock worth $678,000 after purchasing an additional 6,633 shares in the last quarter. Motley Fool Asset Management LLC boosted its position in shares of Evolv Technologies by 19.5% in the 3rd quarter. Motley Fool Asset Management LLC now owns 390,734 shares of the company's stock valued at $1,817,000 after purchasing an additional 63,778 shares during the period. Oppenheimer & Co. Inc. grew its stake in Evolv Technologies by 8.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 62,462 shares of the company's stock worth $290,000 after buying an additional 4,650 shares during the last quarter. Sterling Capital Management LLC grew its stake in Evolv Technologies by 842.3% during the 3rd quarter. Sterling Capital Management LLC now owns 5,437 shares of the company's stock worth $25,000 after buying an additional 4,860 shares during the last quarter. Finally, Moody National Bank Trust Division increased its position in Evolv Technologies by 14.5% during the third quarter. Moody National Bank Trust Division now owns 97,025 shares of the company's stock worth $451,000 after buying an additional 12,292 shares during the period. Institutional investors and hedge funds own 66.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EVLV shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Evolv Technologies in a research note on Tuesday, September 29th. Craig Hallum reissued a "buy" rating and issued a $11.25 price objective on shares of Evolv Technologies in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, August 30th. Finally, LADENBURG THALM/SH SH began coverage on shares of Evolv Technologies in a report on Tuesday, September 8th. They issued a "buy" rating and a $8.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.81.

Insider Activity at Evolv Technologies

In other news, Director Richard Shapiro bought 19,100 shares of the stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $4.96 per share, with a total value of $94,736.00. Following the completion of the acquisition, the director directly owned 39,000 shares in the company, valued at approximately $193,440. The trade was a 95.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.20% of the company's stock.

Evolv Technologies Trading Up 0.7%

NASDAQ:EVLV opened at $4.56 on Friday. Evolv Technologies Holdings, Inc. has a 12-month low of $4.02 and a 12-month high of $7.48. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 0.24. The stock's 50 day simple moving average is $4.72 and its 200-day simple moving average is $5.60. The firm has a market cap of $825.95 million, a P/E ratio of -152.00 and a beta of 1.83.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $43.75 million for the quarter, compared to analyst estimates of $41.80 million. Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%. Equities analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.20 EPS for the current year.

Evolv Technologies Profile

Evolv Technologies develops AI-powered security screening systems designed to help organizations detect weapons and other threats at entrances while supporting a more convenient visitor experience. The company combines sensor technology, artificial intelligence and security analytics to screen people as they walk through designated screening areas.

Its product portfolio has included Evolv Express, a touchless weapons-detection system intended for high-throughput environments; Evolv Edge, a related screening solution for smaller or more controlled entrances; and Evolv Insights, a software platform that provides security and operational data to help organizations monitor screening activity and manage their security programs.

Evolv has served a range of customers, including sports and entertainment venues, educational institutions, healthcare facilities, corporate campuses and other public-facing organizations.

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