Evolv Technologies (NASDAQ:EVLV) Trading Up 6.2% - Here's Why

Key Points

• Evolv Technologies' stock price increased by 6.2% to $8.48, despite a trading volume decrease of 25% from its average session volume.
• Analysts have a consensus rating of "Moderate Buy" for Evolv Technologies, with a target price averaging $8.88 and several upgrades from various equity research firms.
• The company reported a quarterly earnings miss with an EPS of ($0.25), below the expected ($0.09), while generating $26.68 million in revenue against an estimate of $30.95 million.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) shares traded up 6.2% during mid-day trading on Friday . The company traded as high as $8.45 and last traded at $8.48. 1,857,601 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 2,471,842 shares. The stock had previously closed at $7.98.

Analyst Ratings Changes

A number of equities research analysts recently commented on EVLV shares. Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price target on the stock in a research report on Wednesday, May 21st. Zacks Research lowered Evolv Technologies from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 27th. TD Cowen reiterated a "buy" rating and issued a $10.00 price objective on shares of Evolv Technologies in a research report on Friday, August 15th. Wall Street Zen upgraded Evolv Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Lake Street Capital upgraded Evolv Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $5.50 to $9.00 in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.88.

Evolv Technologies Trading Down 2.6%

The company has a 50 day simple moving average of $7.35 and a 200-day simple moving average of $5.39. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -14.82 and a beta of 1.71.

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 company 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. Equities analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolv Technologies

In other Evolv Technologies news, major shareholder Gates Frontier, Llc sold 776,236 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the sale, the insider owned 17,189,096 shares of the company's stock, valued at approximately $140,950,587.20. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Evolv Technologies in the 4th quarter worth about $40,000. CW Advisors LLC purchased a new stake in shares of Evolv Technologies during the 1st quarter worth approximately $33,000. BNP Paribas Financial Markets increased its stake in shares of Evolv Technologies by 38.3% during 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 during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Evolv Technologies during the 2nd quarter worth approximately $94,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Evolv Technologies during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 66.65% of the company's stock.

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.