Evolv Technologies (NASDAQ:EVLV) Stock Breaks Above 50-Day Moving Average - What's Next?

Key Points

• Evolv Technologies shares rose 1.9% to $4.85, moving above their 50-day moving average of $4.80, though they remained below the 200-day average of $5.65.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $9.81 price target; individual targets range from $8.00 to $11.25, alongside one Hold and one Sell rating.
• The company reported quarterly revenue of $43.75 million, above expectations, but missed on adjusted earnings per share and remains unprofitable. Director Richard Shapiro also increased his holdings by buying 19,100 shares, while institutions own 66.65% of the stock.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $4.80 and traded as high as $4.85. Evolv Technologies shares last traded at $4.85, with a volume of 1,480,332 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. LADENBURG THALM/SH SH started coverage on Evolv Technologies in a research note on Tuesday, September 8th. They set a "buy" rating and a $8.00 price target for the company. Craig Hallum restated a "buy" rating and set a $11.25 target price on shares of Evolv Technologies in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 30th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Evolv Technologies in a research note on Tuesday, September 29th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.81.

Evolv Technologies Trading Up 1.9%

The company has a market capitalization of $878.48 million, a price-to-earnings ratio of -161.67 and a beta of 1.75. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The company's 50 day simple moving average is $4.80 and its two-hundred day simple moving average is $5.65.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) 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 firm had revenue of $43.75 million during the quarter, compared to analysts' expectations of $41.80 million. As a group, research analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.20 earnings per share for the current fiscal year.

Insider Transactions at Evolv Technologies

In other Evolv Technologies news, Director Richard Shapiro bought 19,100 shares of Evolv Technologies stock in a transaction that occurred on Friday, September 4th. The shares were bought at an average cost of $4.96 per share, with a total value of $94,736.00. Following the transaction, the director directly owned 39,000 shares of the company's stock, valued at approximately $193,440. This 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 corporate insiders.

Institutional Trading of Evolv Technologies

A number of institutional investors have recently bought and sold shares of EVLV. Sterling Capital Management LLC raised its stake in Evolv Technologies by 842.3% in the 3rd quarter. Sterling Capital Management LLC now owns 5,437 shares of the company's stock worth $25,000 after acquiring an additional 4,860 shares during the last quarter. FNY Investment Advisers LLC raised its stake in shares of Evolv Technologies by 33.3% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock worth $58,000 after purchasing an additional 2,500 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Evolv Technologies in the second quarter worth about $63,000. Evelyn Partners Investment Management LLP acquired a new stake in shares of Evolv Technologies during the first quarter worth about $115,000. Finally, Granite Investment Partners LLC boosted its position in Evolv Technologies by 77.4% in the first quarter. Granite Investment Partners LLC now owns 20,562 shares of the company's stock valued at $124,000 after buying an additional 8,968 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

About Evolv Technologies

Evolv Technologies develops AI-powered security screening systems designed to help organizations detect weapons and other threats at entrances while supporting a more convenient visitor experience. The company combines sensor technology, artificial intelligence and security analytics to screen people as they walk through designated screening areas.

Its product portfolio has included Evolv Express, a touchless weapons-detection system intended for high-throughput environments; Evolv Edge, a related screening solution for smaller or more controlled entrances; and Evolv Insights, a software platform that provides security and operational data to help organizations monitor screening activity and manage their security programs.

Evolv has served a range of customers, including sports and entertainment venues, educational institutions, healthcare facilities, corporate campuses and other public-facing organizations.

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