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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares hit a new 52-week low during mid-day trading on Monday. The company traded as low as $4.45 and last traded at $4.4840, with a volume of 194,699 shares changing hands. The stock had previously closed at $4.53.

Wall Street Analysts Forecast Growth

EVLV has been the topic of several recent analyst reports. LADENBURG THALM/SH SH began coverage on shares of Evolv Technologies in a research report on Tuesday, September 8th. They set a “buy” rating and a $8.00 price objective on the stock. 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 target price on shares of Evolv Technologies in a research note on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolv Technologies in a research note on Tuesday, September 29th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Evolv Technologies presently has an average rating of “Moderate Buy” and an average price target of $9.81.

Evolv Technologies Stock Down 3.2%

The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $5.18 and a 200-day moving average price of $5.77. The stock has a market capitalization of $794.26 million, a P/E ratio of -146.17 and a beta of 1.75.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%. The firm had revenue of $43.75 million during the quarter, compared to analysts’ expectations of $41.80 million. As a group, research analysts forecast that Evolv Technologies Holdings, Inc. will post -0.20 EPS for the current fiscal year.

Insider Transactions at Evolv Technologies

In other news, Director Richard Shapiro acquired 19,100 shares of Evolv Technologies stock in a transaction on Friday, September 4th. The shares were acquired at an average price of $4.96 per share, with a total value of $94,736.00. Following the purchase, the director directly owned 39,000 shares in the company, valued at $193,440. The trade was a 95.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Evolv Technologies

Hedge funds have recently modified their holdings of the company. Moody National Bank Trust Division boosted its position in shares of Evolv Technologies by 14.5% during the 3rd quarter. Moody National Bank Trust Division now owns 97,025 shares of the company’s stock valued at $451,000 after acquiring an additional 12,292 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Evolv Technologies in the second quarter worth $63,000. Allianz Asset Management GmbH bought a new stake in Evolv Technologies in the second quarter worth $267,000. Corient Private Wealth LP increased its position in Evolv Technologies by 100.6% in the second quarter. Corient Private Wealth LP now owns 208,837 shares of the company’s stock worth $1,211,000 after purchasing an additional 104,708 shares during the last quarter. Finally, Wedmont Private Capital purchased a new stake in Evolv Technologies during the second quarter valued at $1,640,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Company Profile

Evolv Technologies develops artificial intelligence-powered security screening systems designed to detect weapons and other threats while allowing people to move through checkpoints without routinely removing personal belongings. Its technology is intended to help security teams improve protection and reduce congestion compared with traditional screening methods.

The company’s primary products include Evolv Express, a touchless weapons-detection system, and Evolv Insights, a software platform that provides operational data and analytics to help organizations manage screening programs.