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

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

Evolv Technologies Trading Up 22.0 %

EVLV stock traded up $0.80 during trading on Thursday, hitting $4.43. 7,861,655 shares of the company’s stock were exchanged, compared to its average volume of 1,368,215. The business has a 50-day moving average price of $4.31 and a two-hundred day moving average price of $4.42. The stock has a market capitalization of $674.16 million, a price-to-earnings ratio of -6.07 and a beta of 1.37. Evolv Technologies has a 52-week low of $2.79 and a 52-week high of $8.30.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) earnings per share for the quarter, beating 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 analysts’ expectations of $18.81 million. On average, equities research analysts anticipate that Evolv Technologies will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolv Technologies

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

Institutional Trading of Evolv Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming raised its position in Evolv Technologies by 100.1% during 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 last quarter. Tower Research Capital LLC TRC raised its position in Evolv Technologies by 117.1% during the second quarter. Tower Research Capital LLC TRC now owns 8,642 shares of the company’s stock worth $52,000 after acquiring an additional 4,661 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Evolv Technologies by 47.6% during 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 last quarter. Qube Research & Technologies Ltd acquired a new position in Evolv Technologies during the third quarter worth about $48,000. Finally, Victory Capital Management Inc. acquired a new position in Evolv Technologies during the third quarter worth about $49,000. Hedge funds and other institutional investors own 66.65% of the company’s stock.

About Evolv Technologies

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.