Evolv Technologies (NASDAQ:EVLV) Trading 5.1% Higher – Here’s What Happened

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price shot up 5.1% during mid-day trading on Tuesday . The stock traded as high as $7.17 and last traded at $7.0950. 1,563,528 shares were traded during mid-day trading, a decline of 42% from the average session volume of 2,679,635 shares. The stock had previously closed at $6.75.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EVLV. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a report on Wednesday, October 8th. Zacks Research raised Evolv Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Finally, Lake Street Capital raised their price objective on Evolv Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.13.

Evolv Technologies Price Performance

The firm’s fifty day simple moving average is $6.83 and its 200-day simple moving average is $7.09. The firm has a market capitalization of $1.25 billion, a PE ratio of -19.35 and a beta of 1.85. The company has a quick ratio of 1.20, a current ratio of 1.27 and a debt-to-equity ratio of 0.28.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.06. The company had revenue of $42.85 million during the quarter, compared to the consensus estimate of $33.73 million. Evolv Technologies had a negative net margin of 43.76% and a negative return on equity of 55.11%. On average, research analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evolv Technologies news, insider Anil Chitkara sold 240,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $8.20, for a total value of $1,968,000.00. Following the completion of the transaction, the insider owned 1,275,100 shares of the company’s stock, valued at approximately $10,455,820. The trade was a 15.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Ellenbogen sold 80,745 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $8.26, for a total transaction of $666,953.70. Following the transaction, the director owned 2,083,961 shares in the company, valued at $17,213,517.86. This represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 61,300 shares of company stock valued at $363,326 and sold 440,745 shares valued at $3,618,954. 11.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Evolv Technologies by 17.1% in the third quarter. Vanguard Group Inc. now owns 11,981,998 shares of the company’s stock worth $90,464,000 after purchasing an additional 1,750,073 shares during the last quarter. SCS Capital Management LLC bought a new position in shares of Evolv Technologies during the 1st quarter valued at $15,061,000. Millennium Management LLC boosted its stake in shares of Evolv Technologies by 194.6% in the 3rd quarter. Millennium Management LLC now owns 4,187,604 shares of the company’s stock worth $31,616,000 after buying an additional 2,766,335 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Evolv Technologies by 74.4% in the 2nd quarter. Marshall Wace LLP now owns 3,899,155 shares of the company’s stock worth $24,331,000 after buying an additional 1,662,797 shares during the last quarter. Finally, Key Colony Management LLC grew its holdings in shares of Evolv Technologies by 5.5% in the third quarter. Key Colony Management LLC now owns 3,275,095 shares of the company’s stock worth $24,727,000 after acquiring an additional 170,095 shares during the period. 66.65% of the stock is owned by hedge funds and other institutional investors.

About Evolv Technologies

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.