Evolv Technologies (NASDAQ:EVLV) Reaches New 12-Month Low - What's Next?

Key Points

• Evolv Technologies shares fell to a new 52-week low of $4.55, trading below both their 50-day ($5.27) and 200-day ($5.80) moving averages. The company remains unprofitable, with a negative P/E ratio and analysts expecting a full-year loss.
• Analyst sentiment is mixed but leans positive: four analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. The consensus rating is “Moderate Buy,” with an average price target of $9.81—well above the recent trading price.
• Insider and institutional activity provided some support, including a director’s purchase of 19,100 shares at $4.96 and increased positions from several investment firms. Institutional investors own 66.65% of the company.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s stock price hit a new 52-week low during trading on Monday. The stock traded as low as $4.55 and last traded at $4.5480, with a volume of 3844 shares changing hands. The stock had previously closed at $4.57.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EVLV. LADENBURG THALM/SH SH assumed coverage on shares of Evolv Technologies in a research report on Tuesday, September 8th. They set a "buy" rating and a $8.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Evolv Technologies in a report on Tuesday, September 29th. TD Cowen reissued a "buy" rating and set a $10.00 target price on shares of Evolv Technologies in a research note on Tuesday, June 9th. Wall Street Zen upgraded shares of 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 target on shares of Evolv Technologies in a research note on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.81.

Evolv Technologies Stock Down 0.8%

The firm's 50-day simple moving average is $5.27 and its 200 day simple moving average is $5.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.11 and a current ratio of 1.18. The stock has a market capitalization of $821.42 million, a P/E ratio of -151.43 and a beta of 1.75.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.05% and a negative return on equity of 4.53%. The company had revenue of $43.75 million during the quarter, compared to the consensus estimate of $41.80 million. As a group, research analysts expect that Evolv Technologies Holdings, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling at Evolv Technologies

In related news, Director Richard Shapiro acquired 19,100 shares of the company's stock in a transaction dated Friday, September 4th. The shares were bought at an average price of $4.96 per share, for a total transaction of $94,736.00. Following the purchase, the director directly owned 39,000 shares in the company, valued at approximately $193,440. This trade represents a 95.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. increased its stake in shares of Evolv Technologies by 289.8% during the 1st quarter. Sei Investments Co. now owns 239,710 shares of the company's stock worth $1,450,000 after purchasing an additional 178,215 shares during the last quarter. Empowered Funds LLC acquired a new stake in Evolv Technologies in the 1st quarter valued at about $1,048,000. Militia Capital Management LLC acquired a new stake in Evolv Technologies in the 1st quarter valued at about $2,722,000. CenterBook Partners LP grew its holdings in Evolv Technologies by 252.6% during the fourth quarter. CenterBook Partners LP now owns 1,075,877 shares of the company's stock worth $7,703,000 after purchasing an additional 770,791 shares during the period. Finally, Wedmont Private Capital bought a new position in Evolv Technologies during the second quarter worth about $1,640,000. 66.65% of the stock is owned by institutional investors.

About Evolv Technologies

Evolv Technologies develops artificial intelligence-powered security screening systems designed to detect weapons and other threats while allowing people to move through checkpoints without routinely removing personal belongings. Its technology is intended to help security teams improve protection and reduce congestion compared with traditional screening methods.

The company's primary products include Evolv Express, a touchless weapons-detection system, and Evolv Insights, a software platform that provides operational data and analytics to help organizations manage screening programs.

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