Evolv Technologies (NASDAQ:EVLV) Sees Strong Trading Volume - 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 were traded 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.

Analysts Set New Price Targets

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

Evolv Technologies Price Performance

The company's 50-day simple moving average is $3.85 and its 200 day simple moving average is $3.68. The firm has a market cap of $959.38 million, a P/E ratio of -41.78 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.07. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. The business had revenue of $32.01 million during the quarter, compared to analyst estimates of $26.40 million. Analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors have recently bought and sold shares of EVLV. Vanguard Group Inc. raised its stake in shares of Evolv Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company's stock valued at $29,336,000 after acquiring an additional 477,124 shares during the period. Edge Capital Group LLC raised its stake in shares of Evolv Technologies by 0.8% in the fourth quarter. Edge Capital Group LLC now owns 4,835,206 shares of the company's stock valued at $19,099,000 after acquiring an additional 36,400 shares during the period. SCS Capital Management LLC purchased a new stake in shares of Evolv Technologies in the first quarter valued at $15,061,000. Marshall Wace LLP raised its stake in shares of Evolv Technologies by 317.1% in the fourth quarter. Marshall Wace LLP now owns 3,275,025 shares of the company's stock valued at $12,936,000 after acquiring an additional 2,489,825 shares during the period. Finally, Key Colony Management LLC raised its stake in shares of Evolv Technologies by 1.4% in the first quarter. Key Colony Management LLC now owns 3,043,000 shares of the company's stock valued at $9,494,000 after acquiring an additional 43,000 shares during the period. 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.