Evolv Technologies (NASDAQ:EVLV) Reaches New 1-Year High - Here's What Happened

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $6.45 and last traded at $6.26, with a volume of 3019917 shares. The stock had previously closed at $6.23.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EVLV. Wall Street Zen upgraded Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Northland Capmk upgraded shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Cantor Fitzgerald raised Evolv Technologies to a "strong-buy" rating in a research report on Wednesday, May 21st. Lake Street Capital raised their price objective on Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a research 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 target price for the company in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $6.50.

Evolv Technologies Price Performance

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -22.28 and a beta of 1.68. The company's 50-day simple moving average is $5.01 and its 200-day simple moving average is $4.03.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The business had revenue of $32.01 million during the quarter, compared to analysts' expectations of $26.40 million. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. Research analysts expect that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Evolv Technologies by 2,428.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company's stock worth $6,036,000 after purchasing an additional 1,467,538 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Evolv Technologies during the fourth quarter worth approximately $899,000. Vanguard Group Inc. grew its position in Evolv Technologies by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company's stock worth $35,256,000 after buying an additional 238,963 shares in the last quarter. MIG Capital LLC acquired a new position in Evolv Technologies in the 4th quarter valued at $375,000. Finally, Northern Trust Corp raised its holdings in Evolv Technologies by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,136,210 shares of the company's stock valued at $4,488,000 after acquiring an additional 67,146 shares in the last quarter. 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.

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