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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) 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.

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) 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

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.