Evolv Technologies (NASDAQ:EVLV) Reaches New 1-Year High - Time to Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) reached a new 52-week high during mid-day 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.

Analyst Ratings Changes

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

Evolv Technologies Stock Performance

The stock has a 50 day moving average of $5.18 and a 200-day moving average of $4.07. The company has a market cap of $968.42 million, a PE ratio of -21.09 and a beta of 1.70.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $32.01 million for the quarter, compared to analyst estimates of $26.40 million. Equities research analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Evolv Technologies by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company's stock valued at $296,000 after acquiring an additional 3,276 shares during the last quarter. American Century Companies Inc. lifted its position in Evolv Technologies by 6.1% during the first quarter. American Century Companies Inc. now owns 63,315 shares of the company's stock valued at $198,000 after purchasing an additional 3,633 shares during the period. Mariner LLC boosted its holdings in Evolv Technologies by 15.9% in the fourth quarter. Mariner LLC now owns 26,532 shares of the company's stock valued at $105,000 after purchasing an additional 3,639 shares during the last quarter. MetLife Investment Management LLC grew its position in Evolv Technologies by 5.1% during the 1st quarter. MetLife Investment Management LLC now owns 91,042 shares of the company's stock worth $284,000 after purchasing an additional 4,412 shares during the period. Finally, Sapient Capital LLC grew its position in Evolv Technologies by 0.7% during the 1st quarter. Sapient Capital LLC now owns 735,049 shares of the company's stock worth $2,293,000 after purchasing an additional 5,000 shares during the period. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Company Profile

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.