Evolv Technologies (NASDAQ:EVLV) Sets New 52-Week High - Should You Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s share price hit 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 changing hands. The stock had previously closed at $6.06.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EVLV. 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 report on Wednesday, May 21st. Northland Securities raised Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price target on the stock in a research note on Wednesday, May 21st. Wall Street Zen raised Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Lake Street Capital lifted their price target on shares of Evolv Technologies from $4.00 to $5.50 and gave the stock a "hold" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $6.50.

Evolv Technologies Price Performance

The firm has a 50-day simple moving average of $5.74 and a 200 day simple moving average of $4.30. The company has a market capitalization of $1.10 billion, a PE ratio of -23.87 and a beta of 1.70.

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

Institutional Investors Weigh In On Evolv Technologies

Several hedge funds have recently made changes to their positions in the company. CW Advisors LLC bought a new stake in Evolv Technologies in the first quarter worth $33,000. B. Riley Wealth Advisors Inc. bought a new stake in Evolv Technologies during the fourth quarter worth approximately $40,000. Cibc World Markets Corp acquired a new stake in shares of Evolv Technologies in the fourth quarter worth $49,000. Teacher Retirement System of Texas acquired a new position in Evolv Technologies in the 1st quarter valued at $50,000. Finally, PDT Partners LLC bought a new stake in Evolv Technologies during the first quarter valued at about $57,000. Hedge funds and other institutional investors own 66.65% of the company's stock.

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.