Evolv Technologies (NASDAQ:EVLV) Stock Price Down 4.2% - What's Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s stock price fell 4.2% on Thursday . The stock traded as low as $5.25 and last traded at $5.29. 690,445 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 2,128,762 shares. The stock had previously closed at $5.52.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EVLV. Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald raised shares of Evolv Technologies to a "strong-buy" rating in a research note on Wednesday, May 21st. Northland Capmk raised shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Northland Securities raised shares of 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. Finally, Lake Street Capital raised their target price on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.50.

Evolv Technologies Stock Performance

The firm has a fifty day simple moving average of $4.51 and a 200-day simple moving average of $3.92. The firm has a market cap of $828.18 million, a price-to-earnings ratio of -36.07 and a beta of 1.68.

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

Institutional Investors Weigh In On Evolv Technologies

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Evolv Technologies by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company's stock valued at $296,000 after purchasing an additional 3,276 shares during the last quarter. American Century Companies Inc. lifted its holdings in Evolv Technologies by 6.1% during the 1st quarter. American Century Companies Inc. now owns 63,315 shares of the company's stock valued at $198,000 after purchasing an additional 3,633 shares during the last quarter. Mariner LLC lifted its holdings in Evolv Technologies by 15.9% during the 4th quarter. Mariner LLC now owns 26,532 shares of the company's stock valued at $105,000 after purchasing an additional 3,639 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Evolv Technologies by 5.1% during the 1st quarter. MetLife Investment Management LLC now owns 91,042 shares of the company's stock valued at $284,000 after purchasing an additional 4,412 shares during the last quarter. Finally, Sapient Capital LLC lifted its holdings in shares of Evolv Technologies by 0.7% during the first quarter. Sapient Capital LLC now owns 735,049 shares of the company's stock worth $2,293,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds 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.