Evolv Technologies (NASDAQ:EVLV) Sets New 1-Year High - Still a Buy?

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $6.25 and last traded at $6.12, with a volume of 1282950 shares traded. The stock had previously closed at $6.06.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Northland Securities upgraded shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price target for the company in a research report on Wednesday, May 21st. Cantor Fitzgerald upgraded Evolv Technologies to a "strong-buy" rating in a research note on Wednesday, May 21st. Wall Street Zen upgraded Evolv Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Northland Capmk upgraded Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Finally, Lake Street Capital increased their target price on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $6.50.

Evolv Technologies Price Performance

The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -22.20 and a beta of 1.68. The firm has a fifty day moving average of $4.95 and a 200 day moving average of $4.02.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share (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 business had revenue of $32.01 million during the quarter, compared to the consensus estimate of $26.40 million. Research analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Militia Capital Partners LP increased its holdings in shares of Evolv Technologies by 108.0% during the 1st quarter. Militia Capital Partners LP now owns 260,000 shares of the company's stock worth $811,000 after buying an additional 135,000 shares during the last quarter. Rhumbline Advisers grew its position in Evolv Technologies by 5.3% in the first quarter. Rhumbline Advisers now owns 178,391 shares of the company's stock worth $557,000 after acquiring an additional 8,967 shares during the period. SCS Capital Management LLC acquired a new stake in Evolv Technologies during the first quarter worth $15,061,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Evolv Technologies by 6.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,928 shares of the company's stock valued at $249,000 after purchasing an additional 5,050 shares during the period. Finally, Josh Arnold Investment Consultant LLC acquired a new position in shares of Evolv Technologies in the 1st quarter valued at $1,248,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.