Evolv Technologies (NASDAQ:EVLV) Director Michael Ellenbogen Sells 80,745 Shares of Stock

Key Points

• Director Michael Ellenbogen of Evolv Technologies sold 80,745 shares at an average price of $8.26, totaling approximately $666,954, which decreased his holdings by 3.73%.
• The company recently reported a quarterly earnings loss of ($0.25) per share, missing analysts' expectations, and generating revenue of $26.68 million, below the consensus estimate.
• Evolv Technologies' stock currently holds a consensus rating of "Moderate Buy" from analysts, with target prices ranging from $9.00 to $10.00.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) Director Michael Ellenbogen sold 80,745 shares of the business's stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $8.26, for a total transaction of $666,953.70. Following the transaction, the director owned 2,083,961 shares in the company, valued at $17,213,517.86. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Evolv Technologies Stock Performance

Shares of Evolv Technologies stock remained flat at $8.08 during trading on Friday. 2,070,901 shares of the stock traded hands, compared to its average volume of 2,651,410. The firm has a market capitalization of $1.39 billion, a PE ratio of -14.69 and a beta of 1.69. Evolv Technologies Holdings, Inc. has a 12-month low of $2.04 and a 12-month high of $8.91. The company has a 50 day simple moving average of $7.99 and a two-hundred day simple moving average of $6.09.

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 (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%.The firm had revenue of $26.68 million during the quarter, compared to the consensus estimate of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. Analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current year.

Institutional Trading of Evolv Technologies

Hedge funds have recently bought and sold shares of the stock. CW Advisors LLC purchased a new position in shares of Evolv Technologies in the 1st quarter valued at $33,000. Teacher Retirement System of Texas purchased a new position in Evolv Technologies in the first quarter valued at about $50,000. PDT Partners LLC bought a new stake in shares of Evolv Technologies in the 1st quarter valued at about $57,000. SouthState Corp increased its position in shares of 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 purchasing an additional 15,000 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Evolv Technologies by 38.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company's stock worth $81,000 after purchasing an additional 3,596 shares in the last quarter. Hedge funds and other institutional investors own 66.65% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on EVLV. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Evolv Technologies in a research report on Wednesday, October 8th. TD Cowen reissued a "buy" rating and issued a $10.00 price objective on shares of Evolv Technologies in a research note on Friday, August 15th. Lake Street Capital raised Evolv Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $5.50 to $9.00 in a research report on Friday, August 15th. Cantor Fitzgerald increased their price target on Evolv Technologies from $7.00 to $9.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Finally, Zacks Research lowered Evolv Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Evolv Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $8.88.

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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