Evolv Technologies (NASDAQ:EVLV) Hits New 1-Year Low - Should You Sell?

Key Points

• Evolv Technologies shares fell to a new 52-week low of $4.82, below the 50-day and 200-day moving averages of $5.42 and $5.83, respectively.
• Despite the decline, analysts maintain a generally positive view: the stock has a consensus rating of “Moderate Buy” and an average price target of $9.81, well above its recent price.
• The company reported quarterly revenue of $43.75 million, ahead of estimates, but missed earnings expectations with a loss of $0.05 per share; an insider also purchased 19,100 shares at approximately $4.96 each.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $4.82 and last traded at $4.8150, with a volume of 502810 shares. The stock had previously closed at $4.93.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EVLV shares. TD Cowen reiterated a "buy" rating and set a $10.00 target price on shares of Evolv Technologies in a research note on Tuesday, June 9th. Zacks Research lowered Evolv Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. LADENBURG THALM/SH SH started coverage on Evolv Technologies in a research report on Tuesday, September 8th. They set a "buy" rating and a $8.00 target price on the stock. Wall Street Zen raised Evolv Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 30th. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $11.25 price objective on shares of Evolv Technologies in a research note on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Evolv Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $9.81.

Evolv Technologies Stock Down 2.1%

The company has a market cap of $873.95 million, a PE ratio of -160.83 and a beta of 1.80. The company has a fifty day moving average of $5.42 and a two-hundred day moving average of $5.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.11 and a current ratio of 1.18.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%.The business had revenue of $43.75 million for the quarter, compared to the consensus estimate of $41.80 million. As a group, analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Evolv Technologies

In other Evolv Technologies news, Director Richard Shapiro acquired 19,100 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was purchased at an average price of $4.96 per share, for a total transaction of $94,736.00. Following the acquisition, the director owned 39,000 shares in the company, valued at approximately $193,440. This trade represents a 95.98% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company's stock.

Institutional Trading of Evolv Technologies

Several large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Evolv Technologies by 548.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,728 shares of the company's stock valued at $55,000 after buying an additional 6,536 shares during the last quarter. FNY Investment Advisers LLC raised its stake in shares of Evolv Technologies by 33.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock worth $58,000 after buying an additional 2,500 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Evolv Technologies during the second quarter worth $63,000. Alpine Global Management LLC acquired a new stake in Evolv Technologies in the 4th quarter worth about $83,000. Finally, Evelyn Partners Investment Management LLP acquired a new stake in shares of Evolv Technologies in the first quarter worth approximately $115,000. Hedge funds and other institutional investors own 66.65% of the company's stock.

Evolv Technologies Company Profile

Evolv Technologies Holdings, Inc develops artificial intelligence-enabled security screening systems designed to help organizations detect weapons and other threats. Its technology combines sensors, artificial intelligence and analytics to screen people as they enter facilities without requiring them to remove everyday items such as phones, keys or bags.

The company's primary products include Evolv Express, a system intended for high-throughput weapons screening, and Evolv Insights, a software platform that provides security teams with operational data and reporting.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.