Evolv Technologies (NASDAQ:EVLV) Shares Down 5.4% After Earnings Miss

Key Points

• Evolv Technologies shares fell 5.4% after the company reported quarterly EPS of negative $0.05, missing the consensus estimate of negative $0.03. Revenue of $43.75 million exceeded expectations of $41.80 million.
• Analyst sentiment is mixed: three analysts rate the stock Buy, one rates it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $9.67 versus the recent price near $5.70.
• Institutional investors own 66.65% of Evolv’s shares, with firms including Vanguard and Millennium Management increasing their positions. The company develops AI-driven weapons-detection and security-screening systems.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s stock price was down 5.4% during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $5.70 and last traded at $5.7050. Approximately 944,322 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,726,520 shares. The stock had previously closed at $6.03.

The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Evolv Technologies had a negative return on equity of 33.53% and a negative net margin of 22.75%.The firm had revenue of $43.75 million during the quarter, compared to the consensus estimate of $41.80 million.

Wall Street Analyst Weigh In

EVLV has been the subject of several research analyst reports. TD Cowen reiterated a "buy" rating and issued a $10.00 price objective on shares of Evolv Technologies in a report on Tuesday, June 9th. Weiss Ratings upgraded Evolv Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 2nd. Finally, Zacks Research downgraded Evolv Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.67.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds have recently made changes to their positions in the business. Stoic Point Capital Management LLC bought a new position in Evolv Technologies in the 4th quarter worth approximately $40,724,000. Millennium Management LLC lifted its holdings in shares of Evolv Technologies by 194.6% in the third quarter. Millennium Management LLC now owns 4,187,604 shares of the company's stock worth $31,616,000 after buying an additional 2,766,335 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Evolv Technologies by 15.0% during the fourth quarter. Vanguard Group Inc. now owns 13,784,926 shares of the company's stock worth $98,700,000 after acquiring an additional 1,802,928 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of Evolv Technologies during the first quarter worth $9,722,000. Finally, Mittelman Wealth Management purchased a new position in Evolv Technologies during the third quarter valued at $11,415,000. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Stock Down 5.4%

The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.03 billion, a PE ratio of -24.80 and a beta of 1.80. The company's 50 day moving average is $5.82 and its two-hundred day moving average is $5.93.

About Evolv Technologies

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.

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