Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.07, read 2026-11-05
Ethical passes the values gate
Price4.53 USD
Fair valueUnder review
Ethical score70.0/100
Our investment reviews on this name
2026-11-05Read Markdown4.81-5.8% to today ✓Accumulation gives way to Markdown first Markdown read since October
2026-11-03Read Accumulation4.61-1.7% to today Markdown gives way to Accumulation after a 13% slide in 10 weeks
2026-08-28Read Markdown5.32-14.8% to today ✓Distribution gives way to Markdown after a 13% slide in 8 weeks
2026-07-02Read Distribution6.09-25.6% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Evolv Technologies Holdings, Inc. holds its Markdown at $4.53. Consolidating, no directional conviction, held for 15 days.
As held on the ledger · 2026-11-05
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 15 days
Price at the screen
$4.53
Valuation
N/A trailing · -123.53 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.82
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
13.88%
Below 33%
Interest-bearing debt is just 13.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
6.53%
Below 33%
Cash held in interest-bearing accounts and securities is 6.5% of assets, under the one-third limit.
Pass
Receivables
26.28%
Below 49%
Money owed to the company is 26.3% of assets, under the 49% limit.
Pass
Revenue purity
1.05%
Below 5%
Only 1.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Evolv Technologies Holdings, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 14%, inside the ~33% line, and interest is about 1% of its income, under the ~5% line, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when EVLV's ethical verdict changes
Today EVLV passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Fair value under review. Our model's value is 2.21x the price, above our 2.00x limit. We show no fair value, margin of safety or value read built on it until the review clears.
Where our models see it going: no fair-value estimate yet, range not available, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Airport scanners racing ahead but still losing cash
Picture the line at a big event or transport hub where every bag and body needs checking without the old delays. Evolv builds machines that spot guns and bombs faster than traditional metal detectors, and revenue is rising 45 percent a year as more venues sign up. Yet the business still posts a 23 percent negative profit margin and a negative 30 percent return on equity, so the growth has not turned into real earnings.
The market gives the shares a strong buy rating and a ten dollar target that sits well above the current price, implying plenty of future expansion. That view rests on the idea that security demand will keep climbing and margins will follow. Our screen clears the ethical test, but the numbers show a company that has yet to prove it can convert sales into sustainable profit.
Risks sit around the heavy losses and negative forward earnings multiple that leave little room for any slip in execution or slower orders. Without a clear moat the edge could erode if bigger rivals copy the approach. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
EVLV trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-06Markdown$4.53-5.8%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-05Markdown · changed$4.81+3.9%Entry 12
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 3.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-04Accumulation$4.63+0.4%Entry 11
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Markdown$4.59+9.8%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 9.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10.
2026-10-21Markdown$4.18-7.7%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10.
2026-10-14Markdown$4.53-8.1%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10.
2026-10-02Markdown$4.93-7.3%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10.
2026-08-28Markdown · changed$5.32-6.0%Entry 5
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10.
2026-07-28Distribution$5.66-7.1%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 7.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (4 analysts) rates it strong buy, with a mean price target of $10.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.