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

Key Points

• Evolv Technologies Holdings, Inc. has a consensus recommendation of "Moderate Buy" from six analysts, with an average 12-month price target of $8.8750.
• The company reported a loss of $0.25 per share for the last quarter, missing estimates, with revenues of $26.68 million compared to expectations of $30.95 million.
• Insider trading information reveals that major shareholder Gates Frontier, Llc sold 776,236 shares for over $6.3 million, decreasing their position by 4.32% in Evolv Technologies.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) has received a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $8.8750.

EVLV has been the subject of several analyst reports. Lake Street Capital raised Evolv Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $5.50 to $9.00 in a report on Friday, August 15th. Cantor Fitzgerald increased their price objective on Evolv Technologies from $7.00 to $9.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. TD Cowen restated a "buy" rating and set a $10.00 price objective on shares of Evolv Technologies in a research report on Friday, August 15th. Finally, Zacks Research downgraded Evolv Technologies from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 27th.

Evolv Technologies Stock Up 1.9%

Shares of Evolv Technologies stock opened at $8.60 on Wednesday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -15.64 and a beta of 1.71. The business has a fifty day simple moving average of $7.55 and a 200-day simple moving average of $5.55. Evolv Technologies has a fifty-two week low of $2.04 and a fifty-two week high of $8.91.

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

Insiders Place Their Bets

In other Evolv Technologies news, major shareholder Gates Frontier, Llc sold 776,236 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total value 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. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.30% of the company's stock.

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Evolv Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company's stock valued at $29,336,000 after acquiring an additional 477,124 shares during the last quarter. Josh Arnold Investment Consultant LLC bought a new position in shares of Evolv Technologies during the 1st quarter valued at $1,248,000. Key Colony Management LLC raised its holdings in shares of Evolv Technologies by 2.0% during the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company's stock valued at $19,375,000 after purchasing an additional 62,000 shares in the last quarter. SCS Capital Management LLC acquired a new stake in shares of Evolv Technologies in the 1st quarter valued at $15,061,000. Finally, Nuveen LLC bought a new stake in Evolv Technologies in the first quarter worth $977,000. Institutional investors and hedge funds own 66.65% of the company's stock.

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.

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