Evolv Technologies (NASDAQ:EVLV) Trading Down 6.4% – Here’s Why

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) fell 6.4% during mid-day trading on Friday . The stock traded as low as $6.71 and last traded at $6.7050. 1,792,232 shares changed hands during trading, a decline of 36% from the average session volume of 2,790,924 shares. The stock had previously closed at $7.16.

Analyst Ratings Changes

Several brokerages have commented on EVLV. Lake Street Capital raised their target price on shares of Evolv Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolv Technologies in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.13.

Evolv Technologies Trading Down 6.4%

The company has a market cap of $1.17 billion, a PE ratio of -18.12 and a beta of 1.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.20 and a current ratio of 1.27. The company has a 50 day simple moving average of $6.82 and a two-hundred day simple moving average of $7.09.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $42.85 million during the quarter, compared to analyst estimates of $33.73 million. Evolv Technologies had a negative net margin of 43.76% and a negative return on equity of 55.11%. Sell-side analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current year.

Insider Activity at Evolv Technologies

In related news, Director Kevin M. Charlton bought 15,000 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was bought at an average price of $5.68 per share, with a total value of $85,200.00. Following the purchase, the director directly owned 44,081 shares of the company’s stock, valued at approximately $250,380.08. This represents a 51.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard A. Shapiro purchased 16,300 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was bought at an average cost of $6.02 per share, for a total transaction of $98,126.00. Following the completion of the purchase, the director directly owned 22,500 shares of the company’s stock, valued at $135,450. The trade was a 262.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 61,300 shares of company stock worth $363,326 and have sold 440,745 shares worth $3,618,954. 11.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evolv Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in EVLV. Vanguard Group Inc. grew its stake in shares of Evolv Technologies by 17.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,981,998 shares of the company’s stock valued at $90,464,000 after buying an additional 1,750,073 shares in the last quarter. SCS Capital Management LLC acquired a new stake in Evolv Technologies in the first quarter valued at approximately $15,061,000. Millennium Management LLC grew its position in Evolv Technologies by 194.6% in the third quarter. Millennium Management LLC now owns 4,187,604 shares of the company’s stock worth $31,616,000 after acquiring an additional 2,766,335 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Evolv Technologies by 74.4% during the 2nd quarter. Marshall Wace LLP now owns 3,899,155 shares of the company’s stock worth $24,331,000 after purchasing an additional 1,662,797 shares during the last quarter. Finally, Key Colony Management LLC raised its holdings in shares of Evolv Technologies by 5.5% during the 3rd quarter. Key Colony Management LLC now owns 3,275,095 shares of the company’s stock valued at $24,727,000 after purchasing an additional 170,095 shares in the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

About Evolv Technologies

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.