Evolv Technologies (NASDAQ:EVLV) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• Evolv Technologies has received a rating of "Sell (D-)" from Weiss Ratings, reflecting a negative outlook from market analysts.
• Despite the downgrade, other firms such as Cantor Fitzgerald and Lake Street Capital have issued more positive ratings, with price targets ranging from $9.00 to $10.00.
• The company's most recent financial results showed a loss per share of ($0.25), missing analyst estimates, which contributed to ongoing concerns about its performance.

Evolv Technologies (NASDAQ:EVLV - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald upped 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. Lake Street Capital upgraded Evolv Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $5.50 to $9.00 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 note on Friday, August 15th. Finally, Zacks Research cut Evolv Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 27th. One investment 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.88.

Evolv Technologies Trading Up 8.2%

EVLV opened at $8.03 on Wednesday. Evolv Technologies has a 12-month low of $2.04 and a 12-month high of $8.91. The business's fifty day simple moving average is $7.85 and its 200-day simple moving average is $5.88. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -14.60 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 (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

Insider Buying and Selling

In other Evolv Technologies news, major shareholder Gates Frontier, Llc sold 776,236 shares of the stock in a transaction dated Thursday, September 11th. The stock was 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 directly owned 17,189,096 shares in the company, valued at approximately $140,950,587.20. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.30% of the company's stock.

Institutional Investors Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised 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 buying an additional 477,124 shares during the last quarter. Josh Arnold Investment Consultant LLC purchased a new position in shares of Evolv Technologies in the first quarter worth about $1,248,000. Key Colony Management LLC raised its stake in shares of Evolv Technologies by 2.0% in the second quarter. Key Colony Management LLC now owns 3,105,000 shares of the company's stock worth $19,375,000 after purchasing an additional 62,000 shares during the last quarter. SCS Capital Management LLC purchased a new position in shares of Evolv Technologies in the first quarter worth about $15,061,000. Finally, Nuveen LLC purchased a new position in shares of Evolv Technologies in the first quarter worth about $977,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.