Evolv Technologies (NASDAQ:EVLV) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Evolv Technologies (NASDAQ:EVLV) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also weighed in on EVLV. Craig Hallum reiterated a “buy” rating and issued a $11.25 price objective on shares of Evolv Technologies in a research note on Wednesday, August 12th. Ladenburg Thalmann & Co. Inc. assumed coverage on Evolv Technologies in a research report on Tuesday, September 8th. They set a “buy” rating and a $8.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolv Technologies in a report on Tuesday, September 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.75.

Evolv Technologies Stock Performance

Shares of EVLV traded down $0.26 during trading hours on Friday, hitting $3.90. The company’s stock had a trading volume of 5,629,393 shares, compared to its average volume of 2,151,499. The business has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $5.55. Evolv Technologies has a 52-week low of $3.87 and a 52-week high of $7.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.11. The company has a market cap of $707.38 million, a price-to-earnings ratio of -35.45 and a beta of 1.83.

Insider Buying and Selling

In other news, Director Richard Shapiro bought 19,100 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director owned 39,000 shares of the company’s stock, valued at approximately $193,440. The trade was a 95.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sei Investments Co. increased its holdings in shares of Evolv Technologies by 289.8% in the 1st quarter. Sei Investments Co. now owns 239,710 shares of the company’s stock worth $1,450,000 after buying an additional 178,215 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Evolv Technologies during the 1st quarter worth $1,048,000. Militia Capital Management LLC purchased a new position in Evolv Technologies in the first quarter worth $2,722,000. Wedmont Private Capital purchased a new position in Evolv Technologies in the second quarter worth $1,640,000. Finally, Bank of America Corp DE grew its position in Evolv Technologies by 320.0% in the first quarter. Bank of America Corp DE now owns 677,944 shares of the company’s stock worth $4,102,000 after acquiring an additional 516,523 shares in the last quarter. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Company Profile

Evolv Technologies develops security screening systems designed to detect weapons and other threats in public spaces. Its products combine sensors and artificial intelligence to screen people without requiring the same stop-and-check process used by traditional metal detectors. The company’s offerings include Evolv Express, a screening system for people entering venues, and Evolv eXpedite, which is designed to screen bags and other belongings. Evolv also provides software and analytics tools to help customers manage screening operations.