Evolv Technologies (NASDAQ:EVLV) Shares Cross Above 50 Day Moving Average – Here’s Why

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $4.80 and traded as high as $4.85. Evolv Technologies shares last traded at $4.85, with a volume of 1,480,332 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Craig Hallum reissued a “buy” rating and set a $11.25 price target on shares of Evolv Technologies in a research report on Wednesday, August 12th. Wall Street Zen upgraded Evolv Technologies from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. LADENBURG THALM/SH SH started coverage on Evolv Technologies in a research note on Tuesday, September 8th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Evolv Technologies in a report on Tuesday, September 29th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.81.

Evolv Technologies Price Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 1.11. The business’s 50-day moving average price is $4.79 and its two-hundred day moving average price is $5.64. The firm has a market cap of $849.48 million, a price-to-earnings ratio of -156.33 and a beta of 1.75.

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

Insider Activity at Evolv Technologies

In related news, Director Richard Shapiro purchased 19,100 shares of Evolv Technologies stock in a transaction dated 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 completion of the transaction, the director owned 39,000 shares of the company’s stock, valued at approximately $193,440. This trade represents a 95.98% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Institutional Trading of Evolv Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Stoic Point Capital Management LLC raised its position in shares of Evolv Technologies by 1.4% during the 1st quarter. Stoic Point Capital Management LLC now owns 5,765,507 shares of the company’s stock worth $34,881,000 after purchasing an additional 77,751 shares during the period. Emerald Advisers LLC lifted its holdings in shares of Evolv Technologies by 3.9% in the 1st quarter. Emerald Advisers LLC now owns 4,333,055 shares of the company’s stock worth $26,215,000 after purchasing an additional 161,812 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Evolv Technologies by 6.6% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 2,667,589 shares of the company’s stock worth $16,139,000 after purchasing an additional 165,100 shares during the last quarter. Bank of America Corp DE boosted its position in Evolv Technologies by 320.0% during the 1st quarter. Bank of America Corp DE now owns 677,944 shares of the company’s stock valued at $4,102,000 after purchasing an additional 516,523 shares during the period. Finally, Militia Capital Management LLC acquired a new position in Evolv Technologies during the 1st quarter valued at approximately $2,722,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

About Evolv Technologies

Evolv Technologies develops AI-powered security screening systems designed to help organizations detect weapons and other threats at entrances while supporting a more convenient visitor experience. The company combines sensor technology, artificial intelligence and security analytics to screen people as they walk through designated screening areas.

Its product portfolio has included Evolv Express, a touchless weapons-detection system intended for high-throughput environments; Evolv Edge, a related screening solution for smaller or more controlled entrances; and Evolv Insights, a software platform that provides security and operational data to help organizations monitor screening activity and manage their security programs.

Evolv has served a range of customers, including sports and entertainment venues, educational institutions, healthcare facilities, corporate campuses and other public-facing organizations.