Evolv Technologies (NASDAQ:EVLV) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Evolv Technologies has been downgraded from a "hold" rating to a "strong sell" by Zacks Research, reflecting a negative shift in investor sentiment.
• Despite the downgrade, other analysts maintain a mixed outlook, with TD Cowen issuing a "buy" rating and a price target of $10.00 for the stock.
• The company recently reported a loss in earnings per share, missing estimates, and has a current consensus target price of $8.88.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Wednesday, August 27th,Zacks.com reports.

A number of other brokerages also recently commented on EVLV. Lake Street Capital raised shares of Evolv Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the company from $5.50 to $9.00 in a research report on Friday, August 15th. Northland Securities raised shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective on the stock in a research report on Wednesday, May 21st. TD Cowen reaffirmed a "buy" rating and set a $10.00 price objective on shares of Evolv Technologies in a research report on Friday, August 15th. Cantor Fitzgerald boosted their price objective on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Finally, Northland Capmk raised shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Evolv Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $8.88.

Evolv Technologies Stock Down 1.8%

Shares of Evolv Technologies stock traded down $0.14 during trading on Wednesday, hitting $8.00. The stock had a trading volume of 490,394 shares, compared to its average volume of 2,438,584. The stock has a 50 day simple moving average of $6.86 and a 200 day simple moving average of $5.06. The company has a market capitalization of $1.37 billion, a PE ratio of -14.57 and a beta of 1.71. Evolv Technologies has a 1 year low of $2.04 and a 1 year high of $8.91.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its earnings results 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). The firm had revenue of $26.68 million during the quarter, compared to analysts' expectations of $30.95 million. Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%. Evolv Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Evolv Technologies will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of Evolv Technologies

Institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. acquired a new stake in Evolv Technologies in the fourth quarter valued at approximately $40,000. CW Advisors LLC acquired a new stake in shares of Evolv Technologies in the first quarter worth $33,000. BNP Paribas Financial Markets lifted its stake in shares of Evolv Technologies by 38.3% in the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company's stock worth $81,000 after buying an additional 3,596 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Evolv Technologies in the second quarter worth $94,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Evolv Technologies in the first quarter worth $50,000. 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.