Evolv Technologies (NASDAQ:EVLV) Sets New 1-Year Low – Here’s What Happened

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

Analyst Ratings Changes

Several brokerages have recently commented on EVLV. LADENBURG THALM/SH SH assumed coverage on Evolv Technologies in a research note on Tuesday, September 8th. They set a “buy” rating and a $8.00 price target on the stock. Craig Hallum reaffirmed a “buy” rating and set a $11.25 price objective on shares of Evolv Technologies in a report on Wednesday, August 12th. Weiss Ratings upgraded Evolv Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. TD Cowen reissued a “buy” rating and issued a $10.00 target price on shares of Evolv Technologies in a report on Tuesday, June 9th. Finally, Wall Street Zen upgraded Evolv Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Evolv Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $9.81.

Evolv Technologies Stock Down 0.6%

The firm’s 50 day moving average is $5.38 and its two-hundred day moving average is $5.83. The stock has a market cap of $883.91 million, a price-to-earnings ratio of -162.67 and a beta of 1.80. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 0.24.

Evolv Technologies (NASDAQ:EVLV) 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). The firm had revenue of $43.75 million for the quarter, compared to analyst estimates of $41.80 million. Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%. On average, sell-side analysts predict that Evolv Technologies Holdings, Inc. will post -0.2 EPS for the current year.

Insider Transactions at Evolv Technologies

In other news, Director Richard Shapiro bought 19,100 shares of the stock in a transaction on Friday, September 4th. The stock was purchased at an average cost of $4.96 per share, with a total value of $94,736.00. Following the purchase, the director owned 39,000 shares of the company’s stock, 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 SEC, which is available at this link. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in shares of Evolv Technologies by 548.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,728 shares of the company’s stock valued at $55,000 after purchasing an additional 6,536 shares during the period. FNY Investment Advisers LLC increased its stake in Evolv Technologies by 33.3% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $58,000 after purchasing an additional 2,500 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Evolv Technologies during the second quarter worth about $63,000. Alpine Global Management LLC purchased a new position in Evolv Technologies during the fourth quarter worth about $83,000. Finally, Evelyn Partners Investment Management LLP acquired a new stake in Evolv Technologies in the 1st quarter worth about $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.