Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Given Average Recommendation of “Moderate Buy” by Analysts

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has been assigned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.50.

Several research analysts recently commented on EVLV shares. Northland Capmk upgraded Evolv Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 20th. Northland Securities upgraded Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price target on the stock in a research note on Wednesday, May 21st. Lake Street Capital boosted their price objective on Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a report on Wednesday, May 21st. Cantor Fitzgerald raised Evolv Technologies to a “strong-buy” rating in a report on Wednesday, May 21st. Finally, Wall Street Zen raised Evolv Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Evolv Technologies Stock Performance

NASDAQ:EVLV opened at $5.73 on Monday. Evolv Technologies has a one year low of $2.04 and a one year high of $6.16. The business’s 50-day simple moving average is $4.73 and its 200 day simple moving average is $3.97. The stock has a market cap of $939.72 million, a price-to-earnings ratio of -20.46 and a beta of 1.68.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. The business had revenue of $32.01 million for the quarter, compared to analysts’ expectations of $26.40 million. On average, equities research analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVLV. SCS Capital Management LLC bought a new position in shares of Evolv Technologies in the 1st quarter worth about $15,061,000. Marshall Wace LLP lifted its position in shares of Evolv Technologies by 317.1% in the 4th quarter. Marshall Wace LLP now owns 3,275,025 shares of the company’s stock worth $12,936,000 after buying an additional 2,489,825 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Evolv Technologies by 2,428.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company’s stock valued at $6,036,000 after purchasing an additional 1,467,538 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Evolv Technologies by 5.3% during the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock valued at $29,336,000 after purchasing an additional 477,124 shares during the last quarter. Finally, Josh Arnold Investment Consultant LLC bought a new position in shares of Evolv Technologies during the first quarter valued at approximately $1,248,000. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Company Profile

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.