Evolv Technologies (NASDAQ:EVLV) Trading Down 4.5% - Time to Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s stock price fell 4.5% during mid-day trading on Wednesday . The stock traded as low as $5.77 and last traded at $5.80. 1,516,286 shares traded hands during trading, a decline of 28% from the average session volume of 2,104,300 shares. The stock had previously closed at $6.07.

Analyst Ratings Changes

EVLV has been the topic of a number of research reports. Northland Capmk upgraded shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Lake Street Capital upped their price objective on Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a report on Wednesday, May 21st. Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 target price on the stock in a report on Wednesday, May 21st. Finally, Cantor Fitzgerald upgraded shares of Evolv Technologies to a "strong-buy" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Evolv Technologies has a consensus rating of "Moderate Buy" and an average price target of $6.50.

Evolv Technologies Stock Down 4.5%

The stock has a fifty day moving average of $5.13 and a 200-day moving average of $4.06. The firm has a market capitalization of $950.38 million, a P/E ratio of -20.66 and a beta of 1.70.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07. Evolv Technologies had a negative net margin of 38.97% and a negative return on equity of 34.13%. The firm had revenue of $32.01 million for the quarter, compared to analysts' expectations of $26.40 million. Sell-side analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolv Technologies

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Evolv Technologies by 5.3% during the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company's stock worth $29,336,000 after buying an additional 477,124 shares during the last quarter. SCS Capital Management LLC bought a new stake in Evolv Technologies in the 1st quarter valued at $15,061,000. Marshall Wace LLP lifted its holdings in Evolv Technologies by 317.1% during the 4th quarter. Marshall Wace LLP now owns 3,275,025 shares of the company's stock valued at $12,936,000 after purchasing an additional 2,489,825 shares during the last quarter. Key Colony Management LLC boosted its position in Evolv Technologies by 1.4% during the first quarter. Key Colony Management LLC now owns 3,043,000 shares of the company's stock worth $9,494,000 after purchasing an additional 43,000 shares during the period. Finally, CenterBook Partners LP increased its holdings in shares of Evolv Technologies by 15.0% in the fourth quarter. CenterBook Partners LP now owns 3,008,643 shares of the company's stock valued at $11,884,000 after purchasing an additional 393,563 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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