Evolv Technologies (NASDAQ:EVLV) Trading Up 6.2% – Still a Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares traded up 6.2% during trading on Friday . The stock traded as high as $8.45 and last traded at $8.48. 1,857,601 shares changed hands during trading, a decline of 25% from the average session volume of 2,471,842 shares. The stock had previously closed at $7.98.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EVLV. Northland Capmk raised shares of Evolv Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Northland Securities upgraded shares of Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a research report on Wednesday, May 21st. Wall Street Zen upgraded shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Zacks Research cut shares of Evolv Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 27th. Finally, Lake Street Capital raised shares of Evolv Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $5.50 to $9.00 in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Evolv Technologies currently has an average rating of “Moderate Buy” and an average price target of $8.88.

Evolv Technologies Stock Performance

The company has a market capitalization of $1.51 billion, a PE ratio of -15.93 and a beta of 1.71. The company’s 50-day simple moving average is $7.20 and its 200-day simple moving average is $5.31.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.16). The company had revenue of $26.68 million during the quarter, compared to analyst estimates of $30.95 million. Evolv Technologies had a negative net margin of 73.04% and a negative return on equity of 76.80%. Evolv Technologies has set its FY 2025 guidance at EPS. Analysts expect that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current year.

Insiders Place Their Bets

In other Evolv Technologies news, major shareholder Gates Frontier, Llc sold 776,236 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the completion of the sale, the insider owned 17,189,096 shares in the company, valued at $140,950,587.20. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.30% of the stock is currently owned by insiders.

Institutional Trading of Evolv Technologies

A number of hedge funds have recently bought and sold shares of the company. CW Advisors LLC acquired a new position in Evolv Technologies in the first quarter worth approximately $33,000. B. Riley Wealth Advisors Inc. bought a new position in Evolv Technologies in the fourth quarter worth $40,000. Teacher Retirement System of Texas bought a new position in shares of Evolv Technologies during the first quarter valued at $50,000. PDT Partners LLC bought a new position in shares of Evolv Technologies during the first quarter valued at $57,000. Finally, SouthState Corp raised its holdings in shares of Evolv Technologies by 420.1% in the first quarter. SouthState Corp now owns 18,571 shares of the company’s stock valued at $58,000 after buying an additional 15,000 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

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.