Evolv Technologies (NASDAQ:EVLV) Sets New 52-Week Low – Should You Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price reached a new 52-week low during trading on Monday. The company traded as low as $4.45 and last traded at $4.4840, with a volume of 194,699 shares. The stock had previously closed at $4.53.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EVLV shares. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a report on Tuesday, September 29th. LADENBURG THALM/SH SH initiated coverage on Evolv Technologies in a report on Tuesday, September 8th. They issued a “buy” rating and a $8.00 price target for the company. Craig Hallum reaffirmed a “buy” rating and issued a $11.25 price target on shares of Evolv Technologies in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.81.

Evolv Technologies Price Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 1.11. The firm has a market capitalization of $773.43 million, a P/E ratio of -142.33 and a beta of 1.75. The company’s 50 day moving average price is $5.11 and its 200 day moving average price is $5.75.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%. The company had revenue of $43.75 million during the quarter, compared to the consensus estimate of $41.80 million. As a group, sell-side analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.20 EPS for the current fiscal year.

Insider Activity at Evolv Technologies

In other news, Director Richard Shapiro bought 19,100 shares of the stock in a transaction dated Friday, September 4th. The stock was bought at an average cost of $4.96 per share, with a total value of $94,736.00. Following the purchase, the director owned 39,000 shares of the company’s stock, valued at approximately $193,440. This represents a 95.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Evolv Technologies

Several large investors have recently made changes to their positions in EVLV. Moody National Bank Trust Division lifted its position in Evolv Technologies by 14.5% during the 3rd quarter. Moody National Bank Trust Division now owns 97,025 shares of the company’s stock valued at $451,000 after purchasing an additional 12,292 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Evolv Technologies in the 2nd quarter valued at about $63,000. Allianz Asset Management GmbH acquired a new stake in shares of Evolv Technologies during the 2nd quarter worth approximately $267,000. Corient Private Wealth LP grew its position in shares of Evolv Technologies by 100.6% during the 2nd quarter. Corient Private Wealth LP now owns 208,837 shares of the company’s stock worth $1,211,000 after buying an additional 104,708 shares during the period. Finally, Wedmont Private Capital acquired a new stake in shares of Evolv Technologies during the 2nd quarter worth approximately $1,640,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

About Evolv Technologies

Evolv Technologies develops artificial intelligence-powered security screening systems designed to detect weapons and other threats while allowing people to move through checkpoints without routinely removing personal belongings. Its technology is intended to help security teams improve protection and reduce congestion compared with traditional screening methods.

The company’s primary products include Evolv Express, a touchless weapons-detection system, and Evolv Insights, a software platform that provides operational data and analytics to help organizations manage screening programs.