Evolv Technologies (NASDAQ:EVLV) Reaches New 12-Month High - Here's Why

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 $6.66 and last traded at $6.38, with a volume of 1132098 shares. The stock had previously closed at $6.06.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Northland Securities raised 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. Wall Street Zen raised Evolv Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Cantor Fitzgerald raised Evolv Technologies to a "strong-buy" rating in a research report on Wednesday, May 21st. Lake Street Capital upped their price target on Evolv Technologies from $4.00 to $5.50 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Northland Capmk raised Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. One investment 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 MarketBeat.com, Evolv Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

Evolv Technologies Price Performance

The stock has a market capitalization of $1.05 billion, a PE ratio of -23.16 and a beta of 1.70. The stock has a 50 day moving average of $5.58 and a two-hundred day moving average of $4.24.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings data 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. 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 analyst estimates of $26.40 million. As a group, research analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of Evolv Technologies

A number of institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new position in Evolv Technologies during the 4th quarter valued at about $40,000. CW Advisors LLC bought a new position in shares of Evolv Technologies during the first quarter valued at $33,000. Cibc World Markets Corp acquired a new position in shares of Evolv Technologies during the 4th quarter worth about $49,000. Teacher Retirement System of Texas acquired a new position in shares of Evolv Technologies during the 1st quarter worth approximately $50,000. Finally, PDT Partners LLC bought a new stake in Evolv Technologies during the first quarter worth $57,000. 66.65% of the stock is currently 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.

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