Evolv Technologies (NASDAQ:EVLV) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $4.80 and traded as high as $4.85. Evolv Technologies shares last traded at $4.85, with a volume of 1,480,332 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EVLV. Craig Hallum reiterated 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 reiterated a “sell (d-)” rating on shares of Evolv Technologies in a research report on Tuesday, September 29th. LADENBURG THALM/SH SH began 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, Wall Street Zen raised Evolv Technologies from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Evolv Technologies has an average rating of “Moderate Buy” and an average target price of $9.81.

Evolv Technologies Stock Up 1.9%

The business’s 50 day moving average is $4.80 and its 200-day moving average is $5.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 1.11. The company has a market cap of $878.48 million, a PE ratio of -161.67 and a beta of 1.75.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Evolv Technologies had a negative net margin of 3.05% and a negative return on equity of 4.53%. The firm had revenue of $43.75 million during the quarter, compared to analysts’ expectations of $41.80 million. As a group, analysts predict that Evolv Technologies Holdings, Inc. will post -0.20 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard Shapiro purchased 19,100 shares of Evolv Technologies stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average cost of $4.96 per share, with a total value of $94,736.00. Following the completion of the transaction, the director directly owned 39,000 shares in the company, valued at approximately $193,440. The trade was a 95.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evolv Technologies

Several large investors have recently modified their holdings of the company. Motley Fool Asset Management LLC grew its position in Evolv Technologies by 19.5% during the 3rd quarter. Motley Fool Asset Management LLC now owns 390,734 shares of the company’s stock worth $1,817,000 after purchasing an additional 63,778 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Evolv Technologies by 8.0% during the third quarter. Oppenheimer & Co. Inc. now owns 62,462 shares of the company’s stock worth $290,000 after purchasing an additional 4,650 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Evolv Technologies by 842.3% during the third quarter. Sterling Capital Management LLC now owns 5,437 shares of the company’s stock worth $25,000 after purchasing an additional 4,860 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of Evolv Technologies by 14.5% during the third quarter. Moody National Bank Trust Division now owns 97,025 shares of the company’s stock worth $451,000 after purchasing an additional 12,292 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Evolv Technologies during the second quarter worth $63,000. 66.65% of the stock is owned by institutional investors and hedge funds.

About Evolv Technologies

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.