Evolv Technologies Holdings Inc. (NASDAQ: EVLV) stock fell -0.95% on Friday to $5.72 against a previous-day closing price of $5.78. With 1.68 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.43 million shares. During the session, the Security & Protection Services company that operates in wider Industrials sector, reached to the highest price of $5.88 whereas the lowest price it dropped to was $5.66. The 52-week range on EVLV shows that it touched its highest point at $8.30 and its lowest point at $1.98 during that stretch. It currently has a 1-year price target of $7.93. Beta for the stock currently stands at 1.29.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EVLV was down-trending over the past week, with a drop of -16.01%, but this was down by -18.05% over a month. Three-month performance dropped to -8.19% while six-month performance rose 115.85%. The stock gained 146.55% in the past year, while it has gained 120.85% so far this year. A look at the trailing 12-month EPS for EVLV yields -0.97 with Next year EPS estimates of -0.21. For the next quarter, that number is -0.09. This implies an EPS growth rate of -687.40% for this year and 46.20% for next year.
Float and Shares Shorts:
At present, 148.88 million EVLV shares are outstanding with a float of 122.91 million shares on hand for trading. On Aug 30, 2023, short shares totaled 6.48 million, which was 4.32% higher than short shares on Jul 30, 2023. In addition to Mr. Peter Gustav George as the firm’s Pres, CEO & Director, Mr. Anil R. Chitkara serves as its Co-Founder & Chief Growth Officer.
Institutional Ownership:
Through their ownership of 52.40% of EVLV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 25.86% of EVLV, in contrast to 18.80% held by mutual funds. Shares owned by individuals account for 12.18%. As the largest shareholder in EVLV with 4.24% of the stake, BlackRock Fund Advisors holds 6,362,296 shares worth 6,362,296. A second-largest stockholder of EVLV, The Vanguard Group, Inc., holds 6,275,285 shares, controlling over 4.18% of the firm’s shares. Edge Capital Group LLC is the third largest shareholder in EVLV, holding 5,226,938 shares or 3.49% stake. With a 1.98% stake in EVLV, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,974,460 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.69% of EVLV stock, is the second-largest Mutual Fund holder. It holds 2,529,778 shares valued at 17.68 million. Vanguard Information Technology I holds 1.15% of the stake in EVLV, owning 1,721,637 shares worth 12.03 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, EVLV reported revenue of $9.07M and operating income of -$24.97M. The EBITDA in the recently reported quarter was -$24.50M and diluted EPS was -$0.18.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EVLV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EVLV analysts setting a high price target of $10.00 and a low target of $5.00, the average target price over the next 12 months is $7.93. Based on these targets, EVLV could surge 74.83% to reach the target high and fall by -12.59% to reach the target low. Reaching the average price target will result in a growth of 38.64% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded EVLV stock several times over the past three months with 4 Buys and 6 Sells. In these transactions, 40,000 shares were bought while 206,668 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 37 over the past year. The total number of shares bought during that period was 1,189,138 while 1,025,189 shares were sold.
