Evolv Technologies (NASDAQ:EVLV) Sets New 1-Year High Following Analyst Upgrade

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) hit a new 52-week high during trading on Thursday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $6.15 and last traded at $5.95, with a volume of 9067829 shares trading hands. The stock had previously closed at $5.54.

A number of other analysts have also commented on EVLV. 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 note on Wednesday, May 21st. Cantor Fitzgerald upgraded shares of Evolv Technologies to a "strong-buy" rating in a research note on Wednesday, May 21st. Northland Capmk upgraded shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Finally, Lake Street Capital upped 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 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.50.

Institutional Trading of Evolv Technologies

Several institutional investors have recently made changes to their positions in EVLV. 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 worth $296,000 after buying an additional 3,276 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Evolv Technologies by 6.1% in the 1st quarter. American Century Companies Inc. now owns 63,315 shares of the company's stock worth $198,000 after buying an additional 3,633 shares during the last quarter. Mariner LLC boosted its holdings in shares of Evolv Technologies by 15.9% in the 4th quarter. Mariner LLC now owns 26,532 shares of the company's stock worth $105,000 after buying an additional 3,639 shares during the last quarter. MetLife Investment Management LLC boosted its holdings 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 buying an additional 4,412 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Evolv Technologies by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company's stock worth $245,000 after buying an additional 4,756 shares during the last quarter. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Trading Up 2.5%

The stock's fifty day moving average is $3.90 and its two-hundred day moving average is $3.69. The company has a market capitalization of $959.38 million, a PE ratio of -41.78 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.07. The company had revenue of $32.01 million for the quarter, compared to the consensus estimate of $26.40 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. As a group, analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.27 EPS 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.