Insider Selling: Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) CRO Sells 10,000 Shares of Stock

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) CRO Anthony John Derosa sold 10,000 shares of Evolv Technologies stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $5.78, for a total transaction of $57,800.00. Following the completion of the sale, the executive now owns 38,832 shares in the company, valued at approximately $224,448.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Anthony John Derosa also recently made the following trade(s):

• On Friday, September 1st, Anthony John Derosa sold 10,000 shares of Evolv Technologies stock. The stock was sold at an average price of $6.99, for a total transaction of $69,900.00.
• On Tuesday, August 15th, Anthony John Derosa sold 10,000 shares of Evolv Technologies stock. The stock was sold at an average price of $7.72, for a total transaction of $77,200.00.

Evolv Technologies Stock Down 1.7 %

Shares of EVLV traded down $0.10 during trading on Monday, reaching $5.62. 887,732 shares of the company traded hands, compared to its average volume of 1,174,985. Evolv Technologies Holdings, Inc. has a twelve month low of $1.98 and a twelve month high of $8.30. The stock has a market cap of $842.97 million, a PE ratio of -5.90 and a beta of 1.28. The stock has a 50-day simple moving average of $4.34 and a 200-day simple moving average of $2.07.

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 analysts’ consensus estimates of ($0.13) by ($0.01). Evolv Technologies had a negative net margin of 187.36% and a negative return on equity of 45.24%. The company had revenue of $19.83 million for the quarter, compared to analyst estimates of $14.19 million. On average, equities research analysts predict that Evolv Technologies Holdings, Inc. will post -0.59 EPS for the current year.

Analysts Set New Price Targets

EVLV has been the topic of several research reports. Craig Hallum raised their price target on shares of Evolv Technologies from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Stifel Nicolaus lifted their target price on shares of Evolv Technologies from $2.00 to $5.00 and gave the stock a “hold” rating in a research note on Friday, August 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.60 target price on shares of Evolv Technologies in a research note on Thursday.

Institutional Investors Weigh In On Evolv Technologies

A number of institutional investors have recently made changes to their positions in EVLV. California State Teachers Retirement System grew its holdings in shares of Evolv Technologies by 23.6% in the second quarter. California State Teachers Retirement System now owns 109,135 shares of the company’s stock valued at $655,000 after purchasing an additional 20,827 shares in the last quarter. Castleark Management LLC acquired a new position in shares of Evolv Technologies in the second quarter valued at approximately $2,486,000. Alliancebernstein L.P. grew its holdings in shares of Evolv Technologies by 113.5% in the second quarter. Alliancebernstein L.P. now owns 88,409 shares of the company’s stock valued at $530,000 after purchasing an additional 47,009 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Evolv Technologies by 185.6% in the second quarter. Wells Fargo & Company MN now owns 48,228 shares of the company’s stock valued at $289,000 after purchasing an additional 31,343 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Evolv Technologies in the second quarter valued at approximately $2,713,000. 52.15% of the stock is currently owned by institutional investors and hedge funds.

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.