Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Receives $6.50 Consensus PT from Brokerages

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $6.50.

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

Evolv Technologies Stock Performance

Shares of NASDAQ EVLV traded up $0.05 during midday trading on Thursday, hitting $5.76. 2,078,988 shares of the stock traded hands, compared to its average volume of 2,039,915. Evolv Technologies has a one year low of $2.04 and a one year high of $6.16. The business has a 50 day moving average price of $3.85 and a two-hundred day moving average price of $3.68. The company has a market cap of $945.27 million, a PE ratio of -41.03 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, topping 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 return on equity of 28.57% and a negative net margin of 21.42%. As a group, equities research analysts forecast that Evolv Technologies will post -0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SCS Capital Management LLC purchased a new position in shares of Evolv Technologies during the first quarter valued at about $15,061,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Evolv Technologies by 6.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,928 shares of the company's stock valued at $249,000 after acquiring an additional 5,050 shares in the last quarter. Josh Arnold Investment Consultant LLC purchased a new position in shares of Evolv Technologies during the 1st quarter worth approximately $1,248,000. PDT Partners LLC bought a new position in shares of Evolv Technologies in the 1st quarter worth approximately $57,000. Finally, MetLife Investment Management LLC raised its position in shares of 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 acquiring an additional 4,412 shares in the last quarter. 66.65% of the stock is currently owned by 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.