Evolv Technologies (NASDAQ:EVLV) Sets New 52-Week Low - Should You Sell?

Key Points

• Evolv Technologies hit a new 52-week low, trading as low as $3.99 and last at $4.015, down from its previous close of $4.16.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $9.81; individual targets cited range from $8.00 to $11.25.
• The company’s latest quarterly EPS loss of $0.05 missed estimates of $0.03, although revenue of $43.75 million topped expectations. A director also bought 19,100 shares at an average $4.96.

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) hit a new 52-week low on Friday. The company traded as low as $3.99 and last traded at $4.0150, with a volume of 517,375 shares trading hands. The stock had previously closed at $4.16.

Analyst Ratings Changes

EVLV has been the topic of several recent research reports. Ladenburg Thalmann & Co. Inc. assumed coverage on shares of Evolv Technologies in a research note on Tuesday, September 8th. They set a "buy" rating and a $8.00 target price on the stock. Craig Hallum reiterated a "buy" rating and issued a $11.25 target price on shares of Evolv Technologies in a research report on Wednesday, August 12th. Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Evolv Technologies in a research report on Tuesday, September 29th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Evolv Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $9.81.

Evolv Technologies Stock Down 2.5%

The company has a quick ratio of 1.11, a current ratio of 1.09 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $735.50 million, a PE ratio of -36.86 and a beta of 1.83. The business has a 50-day moving average price of $4.67 and a 200-day moving average price of $5.56.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). The company had revenue of $43.75 million for the quarter, compared to analysts' expectations of $41.80 million. Evolv Technologies had a negative return on equity of 16.27% and a negative net margin of 10.79%. Equities research analysts forecast that Evolv Technologies Holdings, Inc. will post -0.20 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard Shapiro purchased 19,100 shares of Evolv Technologies stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $4.96 per share, for a total transaction of $94,736.00. Following the acquisition, the director directly owned 39,000 shares in the company, valued at approximately $193,440. The trade was a 95.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evolv Technologies

A number of hedge funds have recently modified their holdings of the company. Sei Investments Co. raised its stake in Evolv Technologies by 289.8% during the first 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 period. Empowered Funds LLC purchased a new stake in shares of Evolv Technologies in the 1st quarter valued at approximately $1,048,000. Militia Capital Management LLC purchased a new stake in shares of Evolv Technologies in the 1st quarter valued at approximately $2,722,000. Wedmont Private Capital acquired a new stake in shares of Evolv Technologies during the 2nd quarter worth approximately $1,640,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Evolv Technologies during the 2nd quarter worth approximately $2,571,000. Hedge funds and other institutional investors own 66.65% of the company's stock.

About Evolv Technologies

Evolv Technologies develops security screening systems designed to detect weapons and other threats in public spaces. Its products combine sensors and artificial intelligence to screen people without requiring the same stop-and-check process used by traditional metal detectors. The company's offerings include Evolv Express, a screening system for people entering venues, and Evolv eXpedite, which is designed to screen bags and other belongings. Evolv also provides software and analytics tools to help customers manage screening operations.

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