Evolv Technologies (NASDAQ:EVLV) Stock Crosses Above 50-Day Moving Average – Should You Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $4.71 and traded as high as $4.80. Evolv Technologies shares last traded at $4.76, with a volume of 1,443,859 shares changing hands.

Analyst Ratings Changes

EVLV has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Craig Hallum reaffirmed a “buy” rating and set a $11.25 price objective on shares of Evolv Technologies in a research report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evolv Technologies in a research note on Tuesday, September 29th. Finally, LADENBURG THALM/SH SH began coverage on shares of Evolv Technologies in a research report on Tuesday, September 8th. They set a “buy” rating and a $8.00 target price for the company. Four 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 company’s stock. Based on data from MarketBeat, Evolv Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $9.81.

Evolv Technologies Price Performance

The stock has a market cap of $862.18 million, a price-to-earnings ratio of -158.67 and a beta of 1.83. The stock’s 50 day simple moving average is $4.71 and its two-hundred day simple moving average is $5.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 1.11.

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 business had revenue of $43.75 million during the quarter, compared to analyst estimates of $41.80 million. Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%. On average, analysts forecast that Evolv Technologies Holdings, Inc. will post -0.20 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard Shapiro acquired 19,100 shares of the company’s stock in a transaction that occurred on 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 directly 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Stoic Point Capital Management LLC boosted its position in Evolv Technologies by 6.1% during the 3rd quarter. Stoic Point Capital Management LLC now owns 6,875,094 shares of the company’s stock worth $31,969,000 after acquiring an additional 395,796 shares during the last quarter. Emerald Advisers LLC lifted its holdings in Evolv Technologies by 3.9% during 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 grew its position in shares of Evolv Technologies by 6.6% during 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 in the last quarter. Bank of America Corp DE increased its position in shares of 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 purchasing an additional 516,523 shares during the period. Finally, Militia Capital Management LLC bought a new stake in Evolv Technologies during the first quarter worth $2,722,000. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Company Profile

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.