Evolv Technologies (NASDAQ:EVLV) Stock Price Down 5.4% on Disappointing Earnings

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s stock price fell 5.4% during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $5.70 and last traded at $5.7050. 944,322 shares changed hands during trading, a decline of 65% from the average daily volume of 2,726,520 shares. The stock had previously closed at $6.03.

The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 33.53% and a negative net margin of 22.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen reissued a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research report on Tuesday, June 9th. Weiss Ratings upgraded Evolv Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. Finally, Zacks Research lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.67.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds have recently bought and sold shares of EVLV. Bank of New York Mellon Corp bought a new stake in shares of Evolv Technologies during the second quarter worth $2,571,000. Sapient Capital LLC grew its holdings in shares of Evolv Technologies by 8.0% in the second quarter. Sapient Capital LLC now owns 411,988 shares of the company’s stock worth $2,390,000 after purchasing an additional 30,565 shares during the last quarter. FNY Investment Advisers LLC grew its holdings 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. Moody National Bank Trust Division purchased a new position in Evolv Technologies in the 2nd quarter worth about $491,000. Finally, Empowered Funds LLC purchased a new position in Evolv Technologies in the 1st quarter worth about $1,048,000. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Down 5.4%

The business’s fifty day moving average is $5.82 and its two-hundred day moving average is $5.93. The company has a market cap of $1.03 billion, a P/E ratio of -24.80 and a beta of 1.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.14 and a current ratio of 1.21.

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.