Evolv Technologies (NASDAQ:EVLV) Shares Gap Up to $3.91

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price gapped up before the market opened on Friday . The stock had previously closed at $3.91, but opened at $4.08. Evolv Technologies shares last traded at $4.14, with a volume of 253,383 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on EVLV. Stifel Nicolaus lifted their price objective on shares of Evolv Technologies from $2.00 to $5.00 and gave the company a “hold” rating in a research report on Friday, August 11th. Cantor Fitzgerald reduced their price objective on shares of Evolv Technologies from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Craig Hallum boosted their price target on shares of Evolv Technologies from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 11th.

Evolv Technologies Price Performance

The firm’s 50-day moving average is $4.79 and its two-hundred day moving average is $3.16. The company has a market cap of $539.96 million, a P/E ratio of -4.44 and a beta of 1.45.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Evolv Technologies had a negative return on equity of 44.63% and a negative net margin of 147.76%. The business had revenue of $19.83 million during the quarter, compared to the consensus estimate of $14.19 million. As a group, sell-side analysts expect that Evolv Technologies Holdings, Inc. will post -0.93 EPS for the current year.

Insider Buying and Selling

In other Evolv Technologies news, CRO Anthony John Derosa sold 10,000 shares of Evolv Technologies stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $7.72, for a total transaction of $77,200.00. Following the completion of the transaction, the executive now directly owns 38,832 shares of the company’s stock, valued at $299,783.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Evolv Technologies news, CRO Anthony John Derosa sold 10,000 shares of Evolv Technologies stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $7.72, for a total transaction of $77,200.00. Following the completion of the transaction, the executive now directly owns 38,832 shares of the company’s stock, valued at $299,783.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Ellenbogen sold 83,334 shares of Evolv Technologies stock in a transaction on Monday, September 18th. The stock was sold at an average price of $5.63, for a total transaction of $469,170.42. Following the transaction, the insider now directly owns 2,307,224 shares of the company’s stock, valued at $12,989,671.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 214,134 shares of company stock worth $1,346,939. Insiders own 12.10% of the company’s stock.

Institutional Trading of Evolv Technologies

A number of large investors have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its stake in shares of 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 purchasing an additional 2,489 shares during the period. Rhumbline Advisers lifted its stake in Evolv Technologies by 1.6% in the third quarter. Rhumbline Advisers now owns 162,958 shares of the company’s stock worth $792,000 after acquiring an additional 2,639 shares during the period. State of Wyoming lifted its stake in Evolv Technologies by 100.1% in the second quarter. State of Wyoming now owns 5,558 shares of the company’s stock worth $33,000 after acquiring an additional 2,780 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Evolv Technologies by 47.6% in the second quarter. Ameritas Investment Partners Inc. now owns 9,305 shares of the company’s stock worth $56,000 after acquiring an additional 3,001 shares during the period. Finally, Metropolitan Life Insurance Co NY lifted its stake in Evolv Technologies by 126.6% in the second quarter. Metropolitan Life Insurance Co NY now owns 6,257 shares of the company’s stock worth $38,000 after acquiring an additional 3,496 shares during the period. 52.15% of the stock is 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. 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.