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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $6.96, but opened at $6.60. Evolv Technologies shares last traded at $5.4650, with a volume of 1,497,097 shares.

Analyst Ratings Changes

Several equities research analysts have recently commented on EVLV shares. Zacks Research upgraded Evolv Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.13.

Evolv Technologies Trading Down 16.0%

The stock has a fifty day moving average of $6.08 and a 200 day moving average of $6.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.23. The company has a market capitalization of $1.05 billion, a PE ratio of -28.06 and a beta of 1.82.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. Evolv Technologies had a negative return on equity of 30.45% and a negative net margin of 22.71%.The company had revenue of $46.33 million for the quarter, compared to analysts’ expectations of $43.70 million. As a group, sell-side analysts predict that Evolv Technologies Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael Ellenbogen sold 91,771 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $5.10, for a total transaction of $468,032.10. Following the completion of the transaction, the director owned 2,083,961 shares in the company, valued at $10,628,201.10. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. IFC & Insurance Marketing Inc. purchased a new position in shares of Evolv Technologies during the fourth quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its position in shares of Evolv Technologies by 471.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,806 shares of the company’s stock valued at $49,000 after purchasing an additional 5,614 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Evolv Technologies during the third quarter valued at about $60,000. FNY Investment Advisers LLC grew its position in shares of Evolv Technologies by 48.3% during the fourth quarter. FNY Investment Advisers LLC now owns 8,897 shares of the company’s stock valued at $63,000 after purchasing an additional 2,897 shares in the last quarter. Finally, AlphaCore Capital LLC purchased a new position in shares of Evolv Technologies during the fourth quarter valued at about $72,000. Hedge funds and other institutional investors own 66.65% of the company’s stock.

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.