Evolv Technologies (NASDAQ:EVLV) Downgraded by Zacks Research to Hold

Evolv Technologies (NASDAQ:EVLV) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings downgraded shares of Evolv Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Three investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.67.

Evolv Technologies Stock Down 0.6%

Evolv Technologies stock opened at $6.31 on Tuesday. The company has a 50-day simple moving average of $6.24 and a 200-day simple moving average of $6.22. The firm has a market capitalization of $1.13 billion, a P/E ratio of -27.43 and a beta of 1.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.14 and a current ratio of 1.21. Evolv Technologies has a one year low of $4.86 and a one year high of $8.91.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $46.33 million during the quarter, compared to analyst estimates of $44.23 million. Evolv Technologies had a negative net margin of 22.75% and a negative return on equity of 33.53%. As a group, equities analysts expect that Evolv Technologies will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael Ellenbogen sold 91,771 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $5.10, for a total value of $468,032.10. Following the completion of the sale, the director owned 2,083,961 shares of the company’s stock, valued at $10,628,201.10. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 11.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Evolv Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of EVLV. Vanguard Group Inc. raised its holdings in Evolv Technologies by 17.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,981,998 shares of the company’s stock worth $90,464,000 after buying an additional 1,750,073 shares during the period. Synovus Financial Corp acquired a new stake in Evolv Technologies during the 3rd quarter worth about $2,079,000. Y Intercept Hong Kong Ltd acquired a new stake in Evolv Technologies during the 3rd quarter worth about $1,302,000. Greenwood Gearhart Inc. acquired a new stake in Evolv Technologies during the 4th quarter worth about $1,432,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Evolv Technologies during the 4th quarter worth about $1,804,000. 66.65% of the stock is currently owned by 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.