Stifel slashes price target on Evolv Technologies Holdings Inc. [EVLV] – find out why.

Evolv Technologies Holdings Inc. [NASDAQ: EVLV] price plunged by -18.61 percent to reach at -$0.51. The company report on December 21, 2022 that Evolv Technology Announces $75 Million in Non-Dilutive Debt Financing with Silicon Valley Bank.

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Evolv Technology (NASDAQ: EVLV), the leader in AI-based weapons detection security screening, today announced that it has closed a $75 million non-dilutive debt financing facility with Silicon Valley Bank, the bank of the world’s most innovative companies and investors.

A sum of 3723096 shares traded at recent session while its average daily volume was at 532.61K shares. Evolv Technologies Holdings Inc. shares reached a high of $2.71 and dropped to a low of $1.98 until finishing in the latest session at $2.23.

The one-year EVLV stock forecast points to a potential upside of 55.4. The average equity rating for EVLV stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Evolv Technologies Holdings Inc. [EVLV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EVLV shares is $5.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EVLV stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Evolv Technologies Holdings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 15, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on August 26, 2021, representing the official price target for Evolv Technologies Holdings Inc. stock.

The Average True Range (ATR) for Evolv Technologies Holdings Inc. is set at 0.28, with the Price to Sales ratio for EVLV stock in the period of the last 12 months amounting to 8.35. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 1.42.

EVLV Stock Performance Analysis:

Evolv Technologies Holdings Inc. [EVLV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.12. With this latest performance, EVLV shares dropped by -41.47% in over the last four-week period, additionally sinking by -30.75% over the last 6 months – not to mention a drop of -52.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EVLV stock in for the last two-week period is set at 25.73, with the RSI for the last a single of trading hit 18.31, and the three-weeks RSI is set at 32.13 for Evolv Technologies Holdings Inc. [EVLV]. The present Moving Average for the last 50 days of trading for this stock 3.12, while it was recorded at 2.63 for the last single week of trading, and 2.72 for the last 200 days.

Insight into Evolv Technologies Holdings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Evolv Technologies Holdings Inc. [EVLV] shares currently have an operating margin of -220.29 and a Gross Margin at +28.03. Evolv Technologies Holdings Inc.’s Net Margin is presently recorded at -45.83.

Return on Equity for this stock declined to -4.74, with Return on Assets sitting at -4.04.

Evolv Technologies Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.50 and a Current Ratio set at 6.70.

Evolv Technologies Holdings Inc. [EVLV] Insider Position Details

There are presently around $145 million, or 51.80% of EVLV stock, in the hands of institutional investors. The top three institutional holders of EVLV stocks are: GENERAL CATALYST GROUP MANAGEMENT, LLC with ownership of 13,296,148, which is approximately 0% of the company’s market cap and around 16.40% of the total institutional ownership; DATA COLLECTIVE IV GP, LLC, holding 10,601,281 shares of the stock with an approximate value of $23.64 million in EVLV stocks shares; and EDGE CAPITAL GROUP, LLC, currently with $12.3 million in EVLV stock with ownership of nearly -1.179% of the company’s market capitalization.

Positions in Evolv Technologies Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 57 institutional holders increased their position in Evolv Technologies Holdings Inc. [NASDAQ:EVLV] by around 7,007,298 shares. Additionally, 33 investors decreased positions by around 2,110,117 shares, while 30 investors held positions by with 55,816,307 shares. The mentioned changes placed institutional holdings at 64,933,722 shares, according to the latest SEC report filing. EVLV stock had 18 new institutional investments in for a total of 3,214,342 shares, while 11 institutional investors sold positions of 794,390 shares during the same period.

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