Evolv Technologies (NASDAQ:EVLV) Stock Price Down 2.9%

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares traded down 2.9% during trading on Tuesday . The stock traded as low as $4.27 and last traded at $4.29. 127,927 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,543,272 shares. The stock had previously closed at $4.42.

Wall Street Analyst Weigh In

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

Evolv Technologies Price Performance

The company has a market capitalization of $668.05 million, a PE ratio of -7.25 and a beta of 1.25. The stock has a 50-day simple moving average of $3.61 and a 200 day simple moving average of $3.39.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.15. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. The company had revenue of $25.54 million during the quarter, compared to analysts’ expectations of $23.57 million. As a group, research analysts predict that Evolv Technologies Holdings, Inc. will post -0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Key Colony Management LLC raised its holdings in shares of Evolv Technologies by 64.5% in the 1st quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock worth $20,368,000 after buying an additional 1,795,099 shares in the last quarter. Glenview Capital Management LLC lifted its stake in shares of Evolv Technologies by 21.7% in the 4th quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after purchasing an additional 1,000,000 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in shares of Evolv Technologies during the first quarter worth $2,897,000. Vanguard Group Inc. grew its stake in shares of Evolv Technologies by 6.0% during the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock worth $32,013,000 after purchasing an additional 407,396 shares during the period. Finally, Ironwood Investment Management LLC acquired a new stake in shares of Evolv Technologies during the second quarter worth $724,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

About Evolv Technologies

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.