Evolv Technologies (NASDAQ:EVLV) Stock Price Down 7.6% – What’s Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price was down 7.6% during mid-day trading on Thursday. The company traded as low as $4.14 and last traded at $4.1660. Approximately 1,231,044 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 2,556,931 shares. The stock had previously closed at $4.51.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EVLV. Wall Street Zen upgraded shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Craig Hallum reissued a “buy” rating and set a $11.25 price objective on shares of Evolv Technologies in a report on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research report on Tuesday, September 29th. Finally, Ladenburg Thalmann & Co. Inc. assumed coverage on shares of Evolv Technologies in a research report on Tuesday, September 8th. They issued a “buy” rating and a $8.00 price objective for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.81.

Evolv Technologies Stock Performance

The firm has a fifty day simple moving average of $4.68 and a 200-day simple moving average of $5.57. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 0.24. The stock has a market cap of $761.63 million, a price-to-earnings ratio of -38.22 and a beta of 1.83.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $43.75 million during the quarter, compared to analyst estimates of $41.80 million. Evolv Technologies had a negative net margin of 10.79% and a negative return on equity of 15.87%. Analysts forecast that Evolv Technologies Holdings, Inc. will post -0.20 EPS for the current fiscal year.

Insider Transactions at Evolv Technologies

In other news, Director Richard Shapiro purchased 19,100 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were acquired at an average price of $4.96 per share, for a total transaction of $94,736.00. Following the completion of the acquisition, the director directly owned 39,000 shares in the company, valued at approximately $193,440. The trade was a 95.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Evolv Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stoic Point Capital Management LLC boosted its stake in shares of Evolv Technologies by 6.1% in the 3rd quarter. Stoic Point Capital Management LLC now owns 6,875,094 shares of the company’s stock valued at $31,969,000 after purchasing an additional 395,796 shares during the last quarter. Creek Drive Management Group LLC raised its stake in shares of Evolv Technologies by 86.0% during the third quarter. Creek Drive Management Group LLC now owns 1,767,000 shares of the company’s stock worth $8,217,000 after buying an additional 817,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in Evolv Technologies by 320.0% in the first quarter. Bank of America Corp DE now owns 677,944 shares of the company’s stock valued at $4,102,000 after buying an additional 516,523 shares during the period. Militia Capital Management LLC acquired a new position in Evolv Technologies in the first quarter valued at approximately $2,722,000. Finally, Bank of New York Mellon Corp acquired a new position in Evolv Technologies in the second quarter valued at approximately $2,571,000. 66.65% of the stock is owned by institutional investors.

Evolv Technologies Company Profile

Evolv Technologies develops security screening systems designed to detect weapons and other threats in public spaces. Its products combine sensors and artificial intelligence to screen people without requiring the same stop-and-check process used by traditional metal detectors. The company’s offerings include Evolv Express, a screening system for people entering venues, and Evolv eXpedite, which is designed to screen bags and other belongings. Evolv also provides software and analytics tools to help customers manage screening operations.