Divisadero Street Capital Management LP Takes $757,000 Position in Evolv Technologies Holdings, Inc. $EVLV

Divisadero Street Capital Management LP bought a new stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 121,381 shares of the company’s stock, valued at approximately $757,000. Divisadero Street Capital Management LP owned approximately 0.07% of Evolv Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of EVLV. Vanguard Group Inc. raised its holdings in shares of Evolv Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock worth $29,336,000 after acquiring an additional 477,124 shares during the last quarter. SouthState Corp boosted its stake in shares of Evolv Technologies by 420.1% during the first quarter. SouthState Corp now owns 18,571 shares of the company’s stock valued at $58,000 after acquiring an additional 15,000 shares during the last quarter. Nuveen LLC purchased a new stake in Evolv Technologies during the 1st quarter worth about $977,000. American Century Companies Inc. raised its stake in Evolv Technologies by 6.1% in the 1st quarter. American Century Companies Inc. now owns 63,315 shares of the company’s stock valued at $198,000 after purchasing an additional 3,633 shares during the last quarter. Finally, CW Advisors LLC acquired a new position in Evolv Technologies in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard A. Shapiro purchased 30,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $180,000.00. Following the completion of the purchase, the director directly owned 52,515 shares of the company’s stock, valued at $315,090. The trade was a 133.24% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anil Chitkara sold 240,000 shares of Evolv Technologies stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $8.20, for a total value of $1,968,000.00. Following the completion of the transaction, the insider directly owned 1,275,100 shares in the company, valued at $10,455,820. This represents a 15.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 61,300 shares of company stock worth $363,326 and sold 1,911,445 shares worth $15,560,635. Corporate insiders own 11.30% of the company’s stock.

Evolv Technologies Price Performance

EVLV opened at $6.67 on Monday. Evolv Technologies Holdings, Inc. has a 1 year low of $2.64 and a 1 year high of $8.91. The company’s 50 day simple moving average is $7.19 and its 200 day simple moving average is $6.92. The stock has a market capitalization of $1.16 billion, a PE ratio of -18.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.20 and a current ratio of 1.27.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. The company had revenue of $42.85 million for the quarter, compared to the consensus estimate of $33.73 million. Evolv Technologies had a negative net margin of 43.76% and a negative return on equity of 55.11%. As a group, sell-side analysts expect that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

EVLV has been the topic of several analyst reports. TD Cowen reaffirmed a “buy” rating and set a $10.00 price target on shares of Evolv Technologies in a research note on Friday, August 15th. Lake Street Capital upped their price objective on shares of Evolv Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Zacks Research upgraded shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evolv Technologies in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald increased their price target on Evolv Technologies from $7.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.13.

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.