Evolv Technologies (NASDAQ:EVLV) Trading 5.8% Higher

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

Analysts Set New Price Targets

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

Evolv Technologies Stock Performance

The stock has a 50-day moving average price of $4.31 and a 200-day moving average price of $4.42. The stock has a market cap of $677.20 million, a P/E ratio of -6.07 and a beta of 1.37.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Evolv Technologies had a negative return on equity of 47.56% and a negative net margin of 132.13%. The company had revenue of $21.82 million during the quarter, compared to the consensus estimate of $18.81 million. Sell-side analysts forecast that Evolv Technologies Holdings, Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Evolv Technologies news, Director David Mounts Gonzales purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $3.86 per share, with a total value of $193,000.00. Following the purchase, the director now owns 50,000 shares of the company’s stock, valued at $193,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David Mounts Gonzales purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $3.86 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Ellenbogen sold 54,873 shares of Evolv Technologies stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $5.04, for a total value of $276,559.92. Following the completion of the transaction, 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. In 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVLV. State of Wyoming grew its stake in Evolv Technologies by 100.1% during the 2nd quarter. State of Wyoming now owns 5,558 shares of the company’s stock worth $33,000 after buying an additional 2,780 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Evolv Technologies during the 3rd quarter worth $48,000. Victory Capital Management Inc. purchased a new position in Evolv Technologies during the 3rd quarter worth $49,000. Worth Financial Advisory Group LLC purchased a new position in Evolv Technologies during the 4th quarter worth $50,000. Finally, Tower Research Capital LLC TRC grew its stake in Evolv Technologies by 117.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,642 shares of the company’s stock worth $52,000 after buying an additional 4,661 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Company Profile

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.