Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Given Average Rating of "Moderate Buy" by Analysts

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) has received an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $6.50.

EVLV has been the subject of a number of research analyst reports. Northland Capmk raised Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Wall Street Zen raised Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald upgraded Evolv Technologies to a "strong-buy" rating in a report on Wednesday, May 21st. Lake Street Capital increased their price objective on Evolv Technologies from $4.00 to $5.50 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective for the company in a report on Wednesday, May 21st.

Hedge Funds Weigh In On Evolv Technologies

A number of institutional investors have recently added to or reduced their stakes in EVLV. Bank of New York Mellon Corp increased its holdings in shares of Evolv Technologies by 4.0% during the fourth quarter. Bank of New York Mellon Corp now owns 360,420 shares of the company's stock valued at $1,424,000 after acquiring an additional 13,870 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Evolv Technologies by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,520 shares of the company's stock valued at $3,849,000 after acquiring an additional 50,367 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Evolv Technologies during the fourth quarter valued at $84,000. Avantax Advisory Services Inc. bought a new position in shares of Evolv Technologies during the fourth quarter valued at $82,000. Finally, Cibc World Markets Corp bought a new position in shares of Evolv Technologies during the fourth quarter valued at $49,000. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Stock Performance

NASDAQ:EVLV opened at $5.85 on Friday. The business has a 50 day moving average price of $5.40 and a 200-day moving average price of $4.16. Evolv Technologies has a fifty-two week low of $2.04 and a fifty-two week high of $6.45. The firm has a market cap of $959.38 million, a PE ratio of -20.89 and a beta of 1.70.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $32.01 million during the quarter, compared to analyst estimates of $26.40 million. Research analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

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.

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