Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Sees Large Drop in Short Interest

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the recipient of a significant drop in short interest in 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 volume of 1,560,000 shares, the short-interest ratio is presently 5.0 days. Approximately 7.7% of the shares of the stock are sold short.

Insider Activity at Evolv Technologies

In related news, insider Michael Ellenbogen sold 41,667 shares of the firm's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $4.22, for a total value of $175,834.74. Following the completion of the sale, the insider now owns 2,030,346 shares in the company, valued at $8,568,060.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Evolv Technologies news, Director David Mounts Gonzales bought 50,000 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $3.86 per share, for a total transaction of $193,000.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $193,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Ellenbogen sold 41,667 shares of Evolv Technologies stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $4.22, for a total transaction of $175,834.74. Following the transaction, the insider now owns 2,030,346 shares of the company's stock, valued at approximately $8,568,060.12. The disclosure for this sale can be found here. Insiders sold 146,540 shares of company stock worth $702,395 over the last 90 days. Company insiders own 10.70% of the company's stock.

Institutional Investors Weigh In On Evolv Technologies

Institutional investors have recently bought and sold shares of the stock. Sapient Capital LLC purchased a new stake in Evolv Technologies in the fourth quarter valued at approximately $3,188,000. HighTower Advisors LLC lifted its position in Evolv Technologies by 1.5% during the third quarter. HighTower Advisors LLC now owns 171,397 shares of the company's stock valued at $833,000 after buying an additional 2,489 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Evolv Technologies during the third quarter valued at approximately $2,138,000. Key Colony Management LLC lifted its position in Evolv Technologies by 157.8% during the fourth 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 in the last quarter. Finally, Quent Capital LLC lifted its position in Evolv Technologies by 53.8% during the fourth 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 in the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Stock Performance

Shares of NASDAQ EVLV traded down $0.07 during midday trading on Monday, reaching $3.98. 984,222 shares of the stock were exchanged, compared to its average volume of 1,517,000. Evolv Technologies has a 52-week low of $2.96 and a 52-week high of $8.30. The stock has a 50 day moving average price of $4.33 and a 200-day moving average price of $4.34.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping 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 business had revenue of $21.82 million during the quarter, compared to the consensus estimate of $18.81 million. On average, equities analysts anticipate that Evolv Technologies will post -0.48 earnings per share for the current year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 price target on shares of Evolv Technologies in a report on Thursday, March 28th.

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.

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