Evolv Technologies (NASDAQ:EVLV) Upgraded at Northland Securities

Northland Securities upgraded shares of Evolv Technologies (NASDAQ:EVLV) from a market perform rating to an outperform rating in a research note released on Wednesday, MarketBeat.com reports. Northland Securities currently has $7.50 price target on the stock.

Separately, Lake Street Capital upped their price objective on shares of Evolv Technologies from $2.75 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Evolv Technologies currently has an average rating of “Moderate Buy” and an average price target of $6.50.

Evolv Technologies Stock Down 5.0%

Shares of NASDAQ:EVLV opened at $5.71 on Wednesday. The company has a market capitalization of $933.41 million, a P/E ratio of -40.78 and a beta of 1.61. Evolv Technologies has a 52-week low of $2.04 and a 52-week high of $6.16. The stock’s fifty day simple moving average is $3.80 and its 200-day simple moving average is $3.64.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. The firm had revenue of $32.01 million during the quarter, compared to the consensus estimate of $26.40 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. On average, sell-side analysts anticipate that Evolv Technologies will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Evolv Technologies

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Evolv Technologies by 2,428.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company’s stock valued at $6,036,000 after buying an additional 1,467,538 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Evolv Technologies in the fourth quarter worth approximately $899,000. Vanguard Group Inc. grew its holdings in Evolv Technologies by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company’s stock valued at $35,256,000 after purchasing an additional 238,963 shares during the period. MIG Capital LLC purchased a new stake in Evolv Technologies in the fourth quarter valued at approximately $375,000. Finally, Raymond James Financial Inc. acquired a new position in Evolv Technologies during the fourth quarter worth approximately $84,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

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.