Evolv Technologies (NASDAQ:EVLV) Stock Crosses Above 50 Day Moving Average – What’s Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $4.71 and traded as high as $4.80. Evolv Technologies shares last traded at $4.76, with a volume of 1,443,859 shares.

Wall Street Analysts Forecast Growth

EVLV has been the subject of several recent research reports. LADENBURG THALM/SH SH began 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 for the company. Wall Street Zen upgraded shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolv Technologies in a report on Tuesday, September 29th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.81.

Evolv Technologies Trading Up 4.4%

The firm has a fifty day moving average of $4.71 and a 200-day moving average of $5.59. 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 $862.18 million, a price-to-earnings ratio of -158.67 and a beta of 1.83.

Evolv Technologies (NASDAQ:EVLV) last announced 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). The firm had revenue of $43.75 million during the quarter, compared to analysts’ expectations of $41.80 million. Evolv Technologies had a negative net margin of 3.05% and a negative return on equity of 4.53%. As a group, equities analysts predict that Evolv Technologies Holdings, Inc. will post -0.20 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolv Technologies

In related news, Director Richard Shapiro bought 19,100 shares of the business’s 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 purchase, the director owned 39,000 shares in the company, valued at $193,440. This trade represents a 95.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently made changes to their positions in EVLV. 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 acquiring an additional 178,215 shares during the period. Empowered Funds LLC bought a new position in shares of Evolv Technologies in the first quarter worth $1,048,000. Militia Capital Management LLC acquired a new position in Evolv Technologies during the 1st quarter valued at about $2,722,000. Wedmont Private Capital acquired a new position in shares of Evolv Technologies during the second quarter valued at approximately $1,640,000. Finally, Bank of America Corp DE increased its position in shares of Evolv Technologies by 320.0% during the 1st quarter. Bank of America Corp DE now owns 677,944 shares of the company’s stock valued at $4,102,000 after purchasing an additional 516,523 shares during the period. 66.65% of the stock is 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.