Evolv Technologies (NASDAQ:EVLV) Stock Price Down 4.5%

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) traded down 4.5% during mid-day trading on Monday . The company traded as low as $3.98 and last traded at $3.99. 354,642 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,530,456 shares. The stock had previously closed at $4.18.

Wall Street Analyst Weigh In

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

Evolv Technologies Stock Performance

The firm has a market capitalization of $630.59 million, a price-to-earnings ratio of -6.85 and a beta of 1.25. The business has a fifty day moving average price of $3.68 and a 200 day moving average price of $3.41.

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

Institutional Trading of Evolv Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Resolute Capital Asset Partners LLC acquired a new stake in Evolv Technologies in the 2nd quarter valued at $510,000. Key Colony Management LLC grew its stake in shares of Evolv Technologies by 64.5% during the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after acquiring an additional 1,795,099 shares in the last quarter. Glenview Capital Management LLC grew its stake in shares of Evolv Technologies by 21.7% during the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after acquiring an additional 1,000,000 shares in the last quarter. Wealthspire Advisors LLC grew its stake in shares of Evolv Technologies by 49.2% during the first quarter. Wealthspire Advisors LLC now owns 18,194 shares of the company’s stock valued at $81,000 after acquiring an additional 6,003 shares in the last quarter. Finally, 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 valued at $32,013,000 after acquiring an additional 407,396 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.