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

by · The Cerbat Gem

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV – Get Free Report) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 14,320,000 shares, a decline of 6.0% from the September 30th total of 15,230,000 shares. Currently, 13.3% of the shares of the stock are sold short. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 10.3 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EVLV shares. TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday. Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday. Lake Street Capital decreased their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a report on Monday. Finally, Northland Capmk cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.60.

Get Our Latest Report on Evolv Technologies

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Evolv Technologies during the first quarter valued at about $45,000. SG Americas Securities LLC bought a new position in shares of Evolv Technologies during the 3rd quarter valued at approximately $44,000. Foundations Investment Advisors LLC purchased a new position in shares of Evolv Technologies in the second quarter valued at $30,000. First Bank & Trust purchased a new stake in Evolv Technologies during the third quarter valued at $52,000. Finally, Worth Financial Advisory Group LLC lifted its position in Evolv Technologies by 42.0% during the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after purchasing an additional 4,435 shares during the last quarter. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Up 10.7 %

NASDAQ:EVLV traded up $0.23 on Friday, hitting $2.38. The stock had a trading volume of 1,802,907 shares, compared to its average volume of 1,681,588. The business’s 50-day simple moving average is $3.87 and its two-hundred day simple moving average is $3.34. Evolv Technologies has a 52-week low of $2.01 and a 52-week high of $5.73. The stock has a market cap of $374.97 million, a price-to-earnings ratio of -16.28 and a beta of 1.25.

Evolv Technologies (NASDAQ:EVLV – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.15. The business had revenue of $25.54 million for the quarter, compared to the consensus estimate of $23.57 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. As a group, equities research analysts anticipate that Evolv Technologies will post -0.26 EPS for the current year.

Evolv Technologies Company Profile

(Get Free Report)

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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