Evolv Technologies (NASDAQ:EVLV) Sets New 1-Year Low – Time to Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price hit a new 52-week low on Friday. The stock traded as low as $3.99 and last traded at $4.0150, with a volume of 517,375 shares traded. The stock had previously closed at $4.16.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EVLV shares. Ladenburg Thalmann & Co. Inc. assumed coverage on 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 raised Evolv Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evolv Technologies in a report on Tuesday, September 29th. Finally, Craig Hallum reissued a “buy” rating and set a $11.25 price objective on shares of Evolv Technologies in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.81.

Evolv Technologies Trading Down 2.5%

The company has a market cap of $735.50 million, a PE ratio of -36.86 and a beta of 1.83. 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 business has a 50-day simple moving average of $4.67 and a 200-day simple moving average of $5.56.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Evolv Technologies had a negative return on equity of 16.27% and a negative net margin of 10.79%. The firm had revenue of $43.75 million for the quarter, compared to analysts’ expectations of $41.80 million. On average, analysts predict that Evolv Technologies Holdings, Inc. will post -0.20 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard Shapiro bought 19,100 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average price of $4.96 per share, with a total value of $94,736.00. Following the purchase, the director 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors have recently bought and sold shares of the company. Stoic Point Capital Management LLC increased its stake in Evolv Technologies by 6.1% during the third quarter. Stoic Point Capital Management LLC now owns 6,875,094 shares of the company’s stock worth $31,969,000 after purchasing an additional 395,796 shares during the period. Creek Drive Management Group LLC increased its stake in Evolv Technologies by 86.0% during the 3rd quarter. Creek Drive Management Group LLC now owns 1,767,000 shares of the company’s stock worth $8,217,000 after buying an additional 817,000 shares during the period. Bank of America Corp DE increased its stake in Evolv Technologies by 320.0% during the 1st quarter. Bank of America Corp DE now owns 677,944 shares of the company’s stock worth $4,102,000 after buying an additional 516,523 shares during the period. Militia Capital Management LLC acquired a new stake in Evolv Technologies during the 1st quarter worth approximately $2,722,000. Finally, Bank of New York Mellon Corp acquired a new stake in Evolv Technologies during the 2nd quarter worth approximately $2,571,000. 66.65% of the stock is owned by institutional investors and hedge funds.

Evolv Technologies Company Profile

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.