Evolv Technologies (NASDAQ:EVLV) Sets New 52-Week Low – What’s Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) reached a new 52-week low during trading on Monday. The company traded as low as $4.69 and last traded at $4.6950, with a volume of 215895 shares. The stock had previously closed at $4.79.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Craig Hallum restated a “buy” rating and set a $11.25 price target on shares of Evolv Technologies in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of Evolv Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. 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. Wall Street Zen upgraded shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Finally, LADENBURG THALM/SH SH started coverage on shares of Evolv Technologies in a report on Tuesday, September 8th. They issued a “buy” rating and a $8.00 price target on the stock. Four 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.81.

Evolv Technologies Stock Performance

The stock has a market capitalization of $852.22 million, a P/E ratio of -156.83 and a beta of 1.80. 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 50-day moving average price of $5.35 and a two-hundred day moving average price of $5.82.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share 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 for the quarter, compared to the consensus estimate of $41.80 million. Equities analysts expect that Evolv Technologies Holdings, Inc. will post -0.2 earnings per share for the current year.

Insider Transactions at Evolv Technologies

In other Evolv Technologies news, Director Richard Shapiro purchased 19,100 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was purchased at an average price of $4.96 per share, for a total transaction of $94,736.00. Following the transaction, the director 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 SEC, which is available through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Stoic Point Capital Management LLC boosted its holdings in shares of Evolv Technologies by 1.4% in 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 in the last quarter. Emerald Advisers LLC lifted its position in 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 buying an additional 161,812 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in 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 buying an additional 165,100 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Evolv Technologies by 118.5% in the fourth quarter. BNP Paribas Financial Markets now owns 1,407,644 shares of the company’s stock worth $10,079,000 after buying an additional 763,412 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in Evolv Technologies in the first quarter worth approximately $9,722,000. 66.65% of the stock is currently owned by institutional investors.

About Evolv Technologies

Evolv Technologies Holdings, Inc develops artificial intelligence-enabled security screening systems designed to help organizations detect weapons and other threats. Its technology combines sensors, artificial intelligence and analytics to screen people as they enter facilities without requiring them to remove everyday items such as phones, keys or bags.

The company’s primary products include Evolv Express, a system intended for high-throughput weapons screening, and Evolv Insights, a software platform that provides security teams with operational data and reporting.