Evolv Technologies (NASDAQ:EVLV) Trading 5.8% Higher

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price was up 5.8% on Thursday . The stock traded as high as $3.85 and last traded at $3.84. Approximately 498,466 shares traded hands during trading, a decline of 61% from the average daily volume of 1,263,013 shares. The stock had previously closed at $3.63.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 target price on shares of Evolv Technologies in a research report on Thursday.

Evolv Technologies Stock Up 22.6 %

The stock has a market capitalization of $677.20 million, a price-to-earnings ratio of -6.07 and a beta of 1.37. The stock’s 50-day simple moving average is $4.31 and its 200 day simple moving average is $4.42.

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

Insiders Place Their Bets

In related news, Director David Mounts Gonzales bought 50,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $3.86 per share, with a total value of $193,000.00. Following the completion of the purchase, the director now owns 50,000 shares in the company, valued at approximately $193,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Michael Ellenbogen sold 54,873 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $5.04, for a total transaction of $276,559.92. Following the completion of the sale, the insider now directly owns 1,975,473 shares of the company’s stock, valued at $9,956,383.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Mounts Gonzales acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $3.86 per share, with a total value of $193,000.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at approximately $193,000. The disclosure for this purchase can be found here. Over the last three months, insiders sold 97,823 shares of company stock valued at $458,207. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State of Wyoming grew its holdings in Evolv Technologies by 100.1% during the second quarter. State of Wyoming now owns 5,558 shares of the company’s stock valued at $33,000 after purchasing an additional 2,780 shares during the period. Tower Research Capital LLC TRC grew its holdings in Evolv Technologies by 117.1% during the second quarter. Tower Research Capital LLC TRC now owns 8,642 shares of the company’s stock valued at $52,000 after purchasing an additional 4,661 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Evolv Technologies by 47.6% during the second quarter. Ameritas Investment Partners Inc. now owns 9,305 shares of the company’s stock valued at $56,000 after purchasing an additional 3,001 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Evolv Technologies in the third quarter valued at approximately $48,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Evolv Technologies in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

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.