Evolv Technologies (NASDAQ:EVLV) Stock Rating Upgraded by Northland Securities

Evolv Technologies (NASDAQ:EVLV) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday,Finviz reports. The firm currently has a $7.50 price target on the stock. Northland Securities’ price target would suggest a potential upside of 35.38% from the stock’s current price.

Separately, Lake Street Capital increased their price target on shares of Evolv Technologies from $2.75 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, April 30th.

Evolv Technologies Stock Performance

Shares of NASDAQ EVLV opened at $5.54 on Wednesday. The firm has a market cap of $905.62 million, a P/E ratio of -39.57 and a beta of 1.61. The stock has a fifty day moving average price of $3.63 and a two-hundred day moving average price of $3.57. Evolv Technologies has a 1 year low of $2.04 and a 1 year high of $6.07.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. The company had revenue of $32.01 million during the quarter, compared to analyst estimates of $26.40 million. On average, research analysts predict that Evolv Technologies will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of Evolv Technologies

Several large investors have recently made changes to their positions in EVLV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Evolv Technologies by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company’s stock valued at $296,000 after purchasing an additional 3,276 shares during the last quarter. American Century Companies Inc. raised its stake in Evolv Technologies by 6.1% in the first quarter. American Century Companies Inc. now owns 63,315 shares of the company’s stock valued at $198,000 after purchasing an additional 3,633 shares in the last quarter. Mariner LLC lifted its stake in Evolv Technologies by 15.9% during the fourth quarter. Mariner LLC now owns 26,532 shares of the company’s stock worth $105,000 after purchasing an additional 3,639 shares during the last quarter. MetLife Investment Management LLC lifted its position in Evolv Technologies by 5.1% in the 1st quarter. MetLife Investment Management LLC now owns 91,042 shares of the company’s stock worth $284,000 after buying an additional 4,412 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Evolv Technologies by 8.5% in the third quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock worth $245,000 after buying an additional 4,756 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.