Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Short Interest Update

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 8,580,000 shares, a growth of 9.0% from the March 31st total of 7,870,000 shares. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is currently 5.4 days. Approximately 8.2% of the company's shares are short sold.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, insider Michael Ellenbogen sold 54,873 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $5.04, for a total value of $276,559.92. Following the sale, the insider now directly owns 1,975,473 shares in the company, valued at $9,956,383.92. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Anil Chitkara sold 50,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $5.00, for a total value of $250,000.00. Following the sale, the insider now directly owns 1,200,157 shares in the company, valued at $6,000,785. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Ellenbogen sold 54,873 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $5.04, for a total value of $276,559.92. Following the completion of the sale, the insider now owns 1,975,473 shares in the company, valued at $9,956,383.92. The disclosure for this sale can be found here. Corporate insiders own 10.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC increased its holdings in shares of Evolv Technologies by 84.5% in the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company's stock valued at $29,000 after acquiring an additional 3,000 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Evolv Technologies in the 3rd quarter valued at $49,000. Worth Financial Advisory Group LLC purchased a new position in shares of Evolv Technologies in the 4th quarter valued at $50,000. Worth Venture Partners LLC purchased a new position in shares of Evolv Technologies in the 4th quarter valued at $53,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Evolv Technologies in the 4th quarter valued at $67,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Stock Performance

EVLV traded down $0.15 during trading on Tuesday, hitting $3.91. 683,108 shares of the stock were exchanged, compared to its average volume of 1,433,838. The firm has a 50 day simple moving average of $4.09 and a 200 day simple moving average of $4.30. The firm has a market cap of $608.32 million, a price-to-earnings ratio of -5.36 and a beta of 1.35. Evolv Technologies has a 1 year low of $3.28 and a 1 year high of $8.30.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. The company had revenue of $21.82 million for the quarter, compared to the consensus estimate of $18.81 million. Evolv Technologies had a negative return on equity of 47.56% and a negative net margin of 132.13%. As a group, equities analysts anticipate that Evolv Technologies will post -0.48 earnings per share for the current fiscal year.

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.