Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $9.1250.

EVLV has been the topic of a number of analyst reports. Zacks Research upgraded shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Evolv Technologies in a report on Wednesday, October 8th. Lake Street Capital raised their price target on Evolv Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Cantor Fitzgerald upped their price objective on Evolv Technologies from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, August 15th. Finally, TD Cowen reiterated a “buy” rating and issued a $10.00 price objective on shares of Evolv Technologies in a report on Friday, August 15th.

Insider Buying and Selling

In other news, major shareholder Gates Frontier, Llc sold 776,236 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total value of $6,365,135.20. Following the completion of the transaction, the insider owned 17,189,096 shares in the company, valued at approximately $140,950,587.20. This represents a 4.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard A. Shapiro purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $6.00 per share, for a total transaction of $180,000.00. Following the completion of the purchase, the director directly owned 52,515 shares in the company, valued at $315,090. This represents a 133.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 61,300 shares of company stock valued at $363,326 and sold 1,911,445 shares valued at $15,560,635. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Evolv Technologies by 5.7% during the third quarter. Arizona State Retirement System now owns 31,581 shares of the company’s stock worth $238,000 after purchasing an additional 1,694 shares in the last quarter. CW Advisors LLC boosted its position in shares of Evolv Technologies by 19.0% in the 2nd quarter. CW Advisors LLC now owns 12,614 shares of the company’s stock valued at $79,000 after purchasing an additional 2,014 shares during the period. Victory Capital Management Inc. grew its stake in Evolv Technologies by 16.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,601 shares of the company’s stock worth $118,000 after buying an additional 2,206 shares during the last quarter. Jones Financial Companies Lllp increased its position in Evolv Technologies by 29.1% during the third quarter. Jones Financial Companies Lllp now owns 10,065 shares of the company’s stock worth $77,000 after buying an additional 2,266 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Evolv Technologies by 38.3% during the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company’s stock worth $81,000 after buying an additional 3,596 shares during the period. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Performance

Shares of Evolv Technologies stock opened at $6.67 on Monday. The business has a 50-day simple moving average of $7.19 and a 200-day simple moving average of $6.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.20 and a current ratio of 1.27. Evolv Technologies has a one year low of $2.64 and a one year high of $8.91. The company has a market cap of $1.16 billion, a PE ratio of -18.03 and a beta of 1.85.

Evolv Technologies (NASDAQ:EVLV) last issued its 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. Evolv Technologies had a negative net margin of 43.76% and a negative return on equity of 55.11%. The firm had revenue of $42.85 million for the quarter, compared to analysts’ expectations of $33.73 million. On average, equities research analysts forecast that Evolv Technologies will post -0.27 EPS for the current fiscal year.

About Evolv Technologies

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives; and Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics.