Evolv Technologies (NASDAQ:EVLV) Shares Down 6.5% – Time to Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price traded down 6.5% on Wednesday . The stock traded as low as $4.17 and last traded at $4.17. 393,989 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,491,860 shares. The stock had previously closed at $4.46.

Analyst Ratings Changes

Separately, Northland Securities dropped their price target on shares of Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Evolv Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $5.75.

Evolv Technologies Trading Down 39.8 %

The firm’s fifty day moving average price is $3.98 and its 200 day moving average price is $3.41. The stock has a market capitalization of $389.15 million, a price-to-earnings ratio of -17.21 and a beta of 1.25.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.15. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. The firm had revenue of $25.54 million for the quarter, compared to analyst estimates of $23.57 million. On average, analysts forecast that Evolv Technologies Holdings, Inc. will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Large investors have recently made changes to their positions in the stock. MCF Advisors LLC lifted its holdings in Evolv Technologies by 84.5% during the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock worth $29,000 after buying an additional 3,000 shares in the last quarter. Arizona State Retirement System lifted its holdings in Evolv Technologies by 12.9% during the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock worth $78,000 after buying an additional 3,490 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Evolv Technologies by 30.5% in the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock valued at $45,000 after purchasing an additional 4,127 shares in the last quarter. Worth Financial Advisory Group LLC raised its holdings in shares of Evolv Technologies by 42.0% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after purchasing an additional 4,435 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Evolv Technologies by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,813 shares of the company’s stock valued at $147,000 after purchasing an additional 5,062 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.