Evolv Technologies (NASDAQ:EVLV) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Evolv Technologies (NASDAQ:EVLV) from "hold" to a "strong-buy" while Weiss Ratings still rates it "sell (D-)", leaving a consensus analyst rating of Buy with an average price target of $9.13.
• Evolv's most recent quarter beat expectations with $0.06 EPS (vs. -$0.08 est.) and $38.5M revenue (vs. $36.44M est.), but the company remains unprofitable with a negative net margin and a forecasted FY EPS of -$0.18.
• Institutional investors own about 66.65% of the stock, with large recent positions added by Stoic Point, Millennium and Vanguard, while an insider sold 91,771 shares in March.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Evolv Technologies in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Evolv Technologies presently has a consensus rating of "Buy" and an average price target of $9.13.

Evolv Technologies Stock Performance

EVLV opened at $6.79 on Monday. The company has a market cap of $1.22 billion, a PE ratio of -32.33 and a beta of 1.78. The stock has a 50-day moving average of $5.78 and a 200-day moving average of $6.40. Evolv Technologies has a 52-week low of $3.88 and a 52-week high of $8.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.23.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings results on Tuesday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.14. The company had revenue of $38.50 million during the quarter, compared to the consensus estimate of $36.44 million. Evolv Technologies had a negative return on equity of 30.45% and a negative net margin of 22.71%. As a group, equities research analysts forecast that Evolv Technologies will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Ellenbogen sold 91,771 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $5.10, for a total transaction of $468,032.10. Following the completion of the sale, the director owned 2,083,961 shares in the company, valued at $10,628,201.10. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.30% of the stock is currently owned by insiders.

Institutional Trading of Evolv Technologies

Several hedge funds have recently added to or reduced their stakes in EVLV. Stoic Point Capital Management LLC bought a new stake in Evolv Technologies during the 4th quarter valued at approximately $40,724,000. Millennium Management LLC boosted its stake in Evolv Technologies by 194.6% during the 3rd quarter. Millennium Management LLC now owns 4,187,604 shares of the company's stock valued at $31,616,000 after purchasing an additional 2,766,335 shares during the period. Emerald Advisers LLC acquired a new position in Evolv Technologies in the 3rd quarter valued at approximately $19,780,000. Vanguard Group Inc. raised its holdings in Evolv Technologies by 15.0% in the 4th quarter. Vanguard Group Inc. now owns 13,784,926 shares of the company's stock valued at $98,700,000 after acquiring an additional 1,802,928 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in Evolv Technologies in the 1st quarter valued at approximately $9,722,000. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Company Profile

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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