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

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.50.

A number of analysts have recently weighed in on the company. 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 upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Lake Street Capital upped their price objective on shares of 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 raised Evolv Technologies to a "strong-buy" rating in a research note 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 target on the stock in a report on Wednesday, May 21st.

Institutional Investors Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Ardent Capital Management Inc. raised its stake in Evolv Technologies by 80.8% in the fourth quarter. Ardent Capital Management Inc. now owns 66,926 shares of the company's stock worth $264,000 after buying an additional 29,915 shares in the last quarter. Edge Capital Group LLC grew its holdings in shares of Evolv Technologies by 0.8% during the 4th quarter. Edge Capital Group LLC now owns 4,835,206 shares of the company's stock worth $19,099,000 after acquiring an additional 36,400 shares during the period. Bank of New York Mellon Corp raised its position in shares of Evolv Technologies by 4.0% in the 4th quarter. Bank of New York Mellon Corp now owns 360,420 shares of the company's stock worth $1,424,000 after acquiring an additional 13,870 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new position in shares of Evolv Technologies in the 4th quarter worth approximately $211,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Evolv Technologies by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,520 shares of the company's stock valued at $3,849,000 after purchasing an additional 50,367 shares during the period. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Price Performance

Evolv Technologies stock traded up $0.30 during mid-day trading on Monday, hitting $5.53. The company's stock had a trading volume of 2,714,361 shares, compared to its average volume of 2,042,234. The business has a 50 day moving average price of $4.64 and a 200-day moving average price of $3.95. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $6.16. The stock has a market cap of $906.92 million, a price-to-earnings ratio of -19.75 and a beta of 1.68.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, beating 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. On average, equities research analysts expect that Evolv Technologies will post -0.27 earnings per share for the current fiscal 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.