Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has received a consensus rating of "Moderate Buy" from seven research firms, with one recommending a strong buy, four a buy, and two a sell.
• The company reported a earnings per share of ($0.25) for its last quarter, missing the consensus estimate of ($0.09) by a significant margin.
• Insider sales included a recent transaction by Director Michael Ellenbogen, who sold over 80,000 shares for approximately $667,000, reducing their ownership in the company.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.8750.

EVLV has been the subject of a number of analyst reports. Cantor Fitzgerald raised their price target on Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Evolv Technologies in a research note on Wednesday, October 8th. Lake Street Capital upgraded shares of Evolv Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $5.50 to $9.00 in a research note on Friday, August 15th. TD Cowen reiterated a "buy" rating and issued a $10.00 target price on shares of Evolv Technologies in a research note on Friday, August 15th. Finally, Zacks Research downgraded shares of Evolv Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 27th.

Evolv Technologies Stock Performance

EVLV opened at $8.08 on Friday. The business's 50-day simple moving average is $8.01 and its 200 day simple moving average is $6.15. Evolv Technologies has a 52-week low of $2.04 and a 52-week high of $8.91. The firm has a market capitalization of $1.39 billion, a PE ratio of -14.69 and a beta of 1.69.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). The company had revenue of $26.68 million during the quarter, compared to the consensus estimate 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. On average, research analysts forecast that Evolv Technologies will post -0.27 earnings per share for the current year.

Insider Activity

In related news, Director Michael Ellenbogen sold 80,745 shares of the firm's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $8.26, for a total value of $666,953.70. Following the completion of the sale, the director directly owned 2,083,961 shares in the company, valued at approximately $17,213,517.86. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Gates Frontier, Llc sold 776,236 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $140,950,587.20. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,551,445 shares of company stock valued at $12,608,635 over the last quarter. 11.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evolv Technologies

Hedge funds have recently bought and sold shares of the stock. CW Advisors LLC acquired a new stake in Evolv Technologies during the first quarter worth approximately $33,000. Teacher Retirement System of Texas acquired a new stake in Evolv Technologies during the first quarter worth approximately $50,000. PDT Partners LLC acquired a new stake in Evolv Technologies during the first quarter worth approximately $57,000. SouthState Corp lifted its position in Evolv Technologies by 420.1% during the first quarter. SouthState Corp now owns 18,571 shares of the company's stock worth $58,000 after acquiring an additional 15,000 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Evolv Technologies by 38.3% during the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company's stock worth $81,000 after acquiring an additional 3,596 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

About Evolv Technologies

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.

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