Evolv Technologies (NASDAQ:EVLV) Director Sells $666,953.70 in Stock

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Director Michael Ellenbogen sold 80,745 shares of Evolv Technologies stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $8.26, for a total value of $666,953.70. Following the completion of the sale, the director directly owned 2,083,961 shares in the company, valued at approximately $17,213,517.86. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Evolv Technologies Stock Performance

NASDAQ:EVLV opened at $8.08 on Monday. The stock’s 50-day simple moving average is $8.01 and its 200 day simple moving average is $6.17. The company has a market cap of $1.39 billion, a P/E ratio of -14.69 and a beta of 1.69. Evolv Technologies Holdings, Inc. has a 52-week low of $2.04 and a 52-week high of $8.91.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.16). The company had revenue of $26.68 million during the quarter, compared to analyst estimates of $30.95 million. Evolv Technologies had a negative net margin of 73.04% and a negative return on equity of 76.80%. Evolv Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently made changes to their positions in EVLV. CW Advisors LLC acquired a new position in shares of Evolv Technologies in the first quarter valued at approximately $33,000. Teacher Retirement System of Texas acquired a new position in shares of Evolv Technologies in the first quarter valued at approximately $50,000. PDT Partners LLC acquired a new position in shares of Evolv Technologies in the first quarter valued at approximately $57,000. SouthState Corp grew its position in shares of Evolv Technologies by 420.1% in the first quarter. SouthState Corp now owns 18,571 shares of the company’s stock valued at $58,000 after purchasing an additional 15,000 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Evolv Technologies by 38.3% in the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company’s stock valued at $81,000 after purchasing an additional 3,596 shares during the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EVLV shares. Lake Street Capital raised Evolv Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $5.50 to $9.00 in a research report on Friday, August 15th. Zacks Research downgraded Evolv Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 27th. Cantor Fitzgerald boosted their price target on Evolv Technologies from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, August 15th. TD Cowen reissued a “buy” rating and set a $10.00 price target on shares of Evolv Technologies in a research report on Friday, August 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Evolv Technologies in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Evolv Technologies has an average rating of “Moderate Buy” and a consensus price target of $8.88.

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.