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

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.8750.

A number of research firms have commented on EVLV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolv Technologies in a research report on Saturday. TD Cowen reaffirmed a “buy” rating and issued a $10.00 target price on shares of Evolv Technologies in a research report on Friday, August 15th. Zacks Research raised shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Cantor Fitzgerald upped their target price on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. Finally, Lake Street Capital upgraded shares of Evolv Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $5.50 to $9.00 in a research note on Friday, August 15th.

Insider Transactions at Evolv Technologies

In other Evolv Technologies news, major shareholder Gates Frontier, Llc sold 776,236 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the sale, the insider directly owned 17,189,096 shares in the company, valued at $140,950,587.20. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Ellenbogen sold 80,745 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $8.26, for a total transaction of $666,953.70. Following the sale, the director owned 2,083,961 shares in the company, valued at $17,213,517.86. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,551,445 shares of company stock worth $12,608,635 over the last quarter. Insiders own 11.30% of the company’s stock.

Institutional Trading of Evolv Technologies

A number of large investors have recently made changes to their positions in EVLV. CW Advisors LLC purchased a new stake in shares of Evolv Technologies during the first quarter worth approximately $33,000. Teacher Retirement System of Texas purchased a new stake in shares of Evolv Technologies during the first quarter worth approximately $50,000. PDT Partners LLC purchased a new stake in shares of Evolv Technologies during the first quarter worth approximately $57,000. SouthState Corp increased its stake in shares of Evolv Technologies by 420.1% during the first quarter. SouthState Corp now owns 18,571 shares of the company’s stock worth $58,000 after buying an additional 15,000 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Evolv Technologies during the third quarter worth approximately $60,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Price Performance

NASDAQ EVLV opened at $8.23 on Friday. The firm’s 50-day moving average is $8.07 and its two-hundred day moving average is $6.32. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $8.91. The stock has a market capitalization of $1.41 billion, a P/E ratio of -14.96 and a beta of 1.69.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Thursday, August 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.16). Evolv Technologies had a negative net margin of 73.04% and a negative return on equity of 76.80%. The company had revenue of $26.68 million during the quarter, compared to analyst estimates of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Evolv Technologies will post -0.27 EPS for the current year.

Evolv Technologies Company Profile

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.