Evolv Technologies (NASDAQ:EVLV) Stock Rating Reaffirmed by Cantor Fitzgerald

Evolv Technologies (NASDAQ:EVLV)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report issued on Thursday, Benzinga reports. They currently have a $8.00 price objective on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 80.59% from the company’s previous close.

Evolv Technologies Price Performance

Shares of EVLV stock traded up $0.80 during trading on Thursday, reaching $4.43. The company had a trading volume of 7,861,655 shares, compared to its average volume of 1,368,215. The firm’s 50 day simple moving average is $4.31 and its two-hundred day simple moving average is $4.42. Evolv Technologies has a one year low of $2.79 and a one year high of $8.30. The company has a market capitalization of $674.16 million, a PE ratio of -6.07 and a beta of 1.37.

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

Insider Activity at Evolv Technologies

In related news, Director David Mounts Gonzales purchased 50,000 shares of Evolv Technologies stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $3.86 per share, for a total transaction of $193,000.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $193,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Michael Ellenbogen sold 41,667 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $4.22, for a total value of $175,834.74. Following the transaction, the insider now owns 2,030,346 shares of the company’s stock, valued at approximately $8,568,060.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Mounts Gonzales bought 50,000 shares of Evolv Technologies stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $3.86 per share, for a total transaction of $193,000.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $193,000. The disclosure for this purchase can be found here. Insiders have sold a total of 97,823 shares of company stock valued at $458,207 in the last 90 days. 12.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Evolv Technologies by 35.3% during the 2nd quarter. BlackRock Inc. now owns 7,068,731 shares of the company’s stock worth $42,412,000 after acquiring an additional 1,844,116 shares during the last quarter. Vanguard Group Inc. boosted its stake in Evolv Technologies by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 6,786,566 shares of the company’s stock worth $32,033,000 after acquiring an additional 256,139 shares during the last quarter. Glenview Capital Management LLC boosted its stake in Evolv Technologies by 21.7% during the 4th quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock worth $26,427,000 after acquiring an additional 1,000,000 shares during the last quarter. Edge Capital Group LLC boosted its stake in Evolv Technologies by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 4,819,327 shares of the company’s stock worth $22,747,000 after acquiring an additional 56,500 shares during the last quarter. Finally, Key Colony Management LLC boosted its stake in Evolv Technologies by 157.8% during the 4th quarter. Key Colony Management LLC now owns 2,781,928 shares of the company’s stock worth $13,131,000 after acquiring an additional 1,702,928 shares during the last quarter. Institutional investors own 66.65% of the company’s stock.

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.