Evolv Technologies (NASDAQ:EVLV) Stock Dropped to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Evolv Technologies from “hold” to “sell.” Despite the move, the broader analyst consensus remains “hold,” with a $9.75 average price target.
• EVLV opened at $3.90, near its one-year low of $3.87, and below its 50-day and 200-day moving averages.
• The company’s latest quarterly loss per share was wider than expected ($0.05 versus $0.03), though revenue of $43.75 million topped analyst expectations of $41.80 million.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research firms have also recently commented on EVLV. Ladenburg Thalmann & Co. Inc. initiated coverage on Evolv Technologies in a research note on Tuesday, September 8th. They issued a "buy" rating and a $8.00 target price on the stock. Craig Hallum reaffirmed a "buy" rating and set a $11.25 price target on shares of Evolv Technologies in a research note on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Evolv Technologies in a research note on Tuesday, September 29th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $9.75.

Evolv Technologies Price Performance

EVLV stock opened at $3.90 on Friday. The firm has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $5.55. The stock has a market cap of $707.38 million, a PE ratio of -35.45 and a beta of 1.83. Evolv Technologies has a one year low of $3.87 and a one year high of $7.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.11.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) 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 net margin of 10.79% and a negative return on equity of 16.27%. The company had revenue of $43.75 million for the quarter, compared to analysts' expectations of $41.80 million. On average, analysts predict that Evolv Technologies will post -0.20 EPS for the current fiscal year.

Insider Transactions at Evolv Technologies

In related news, Director Richard Shapiro purchased 19,100 shares of the firm's stock in a transaction on Friday, September 4th. The shares were acquired at an average cost of $4.96 per share, with a total value of $94,736.00. Following the purchase, the director directly owned 39,000 shares of the company's stock, valued at approximately $193,440. This trade represents a 95.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Evolv Technologies

Institutional investors have recently made changes to their positions in the stock. Pillsbury Lake Capital LLC purchased a new position in shares of Evolv Technologies in the third quarter worth $2,441,000. Creek Drive Management Group LLC raised its holdings in Evolv Technologies by 86.0% during the 3rd quarter. Creek Drive Management Group LLC now owns 1,767,000 shares of the company's stock valued at $8,217,000 after buying an additional 817,000 shares during the last quarter. Ieq Capital LLC boosted its position in Evolv Technologies by 4.5% during the 3rd quarter. Ieq Capital LLC now owns 238,332 shares of the company's stock valued at $1,108,000 after buying an additional 10,369 shares during the period. Stoic Point Capital Management LLC boosted its position in Evolv Technologies by 6.1% during 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 buying an additional 395,796 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Evolv Technologies by 5.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 121,301 shares of the company's stock worth $564,000 after acquiring an additional 6,451 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.