Evolv Technologies (NASDAQ:EVLV) Sees Large Volume Increase - Here's What Happened

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) saw an uptick in trading volume on Friday . 2,518,664 shares changed hands during trading, an increase of 32% from the previous session's volume of 1,909,030 shares.The stock last traded at $5.79 and had previously closed at $6.01.

Analyst Upgrades and Downgrades

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

Evolv Technologies Price Performance

The company has a market capitalization of $913.46 million, a P/E ratio of -39.78 and a beta of 1.61. The firm's 50-day moving average is $3.90 and its 200-day moving average is $3.69.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates 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 net margin of 21.42% and a negative return on equity of 28.57%. As a group, analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current fiscal year.

Institutional Trading of Evolv Technologies

Several hedge funds have recently bought and sold shares of EVLV. Autumn Glory Partners LLC purchased a new stake in shares of Evolv Technologies in the fourth quarter worth $40,000. B. Riley Wealth Advisors Inc. bought a new stake in Evolv Technologies in the fourth quarter worth $40,000. CW Advisors LLC bought a new stake in shares of Evolv Technologies in the 1st quarter worth about $33,000. Cibc World Markets Corp bought a new stake in Evolv Technologies during the fourth quarter worth approximately $49,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Evolv Technologies during the 1st quarter valued at approximately $50,000. Institutional investors own 66.65% of the company's stock.

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.