Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Given Average Rating of “Moderate Buy” by Brokerages

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

Several research firms have recently weighed in on EVLV. Zacks Research downgraded Evolv Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 27th. TD Cowen reissued a “buy” rating and set a $10.00 price objective on shares of Evolv Technologies in a report on Friday, August 15th. Lake Street Capital raised Evolv Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $5.50 to $9.00 in a report on Friday, August 15th. Finally, Cantor Fitzgerald increased their price objective on Evolv Technologies from $7.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, August 15th.

Insider Transactions at Evolv Technologies

In related news, major shareholder Gates Frontier, Llc sold 776,236 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the transaction, the insider directly owned 17,189,096 shares in the company, valued at $140,950,587.20. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently bought and sold shares of EVLV. Vanguard Group Inc. grew its position in shares of Evolv Technologies by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock worth $29,336,000 after buying an additional 477,124 shares during the last quarter. SCS Capital Management LLC bought a new position in Evolv Technologies in the first quarter worth approximately $15,061,000. Marshall Wace LLP increased its holdings in Evolv Technologies by 74.4% in the 2nd quarter. Marshall Wace LLP now owns 3,899,155 shares of the company’s stock worth $24,331,000 after acquiring an additional 1,662,797 shares in the last quarter. Key Colony Management LLC boosted its holdings in Evolv Technologies by 2.0% in the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company’s stock worth $19,375,000 after buying an additional 62,000 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in Evolv Technologies during the 2nd quarter valued at approximately $7,041,000. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV opened at $7.55 on Wednesday. The company has a market capitalization of $1.30 billion, a PE ratio of -13.73 and a beta of 1.71. The business has a fifty day moving average price of $7.75 and a two-hundred day moving average price of $5.72. Evolv Technologies has a 1 year low of $2.04 and a 1 year high of $8.91.

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