Evolv Technologies (NASDAQ:EVLV) Rating Increased to Strong-Buy at Northland Capmk

Evolv Technologies (NASDAQ:EVLV - Get Free Report) was upgraded by equities researchers at Northland Capmk from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday, May 20th,Zacks.com reports.

Several other equities analysts also recently commented on the company. Cantor Fitzgerald raised Evolv Technologies to a "strong-buy" rating in a research report on Wednesday, May 21st. Lake Street Capital upped their price objective on Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Finally, Northland Securities raised Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective on the stock 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 assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Evolv Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.50.

Evolv Technologies Price Performance

NASDAQ EVLV traded up $0.06 during trading hours on Tuesday, hitting $5.77. The company's stock had a trading volume of 1,830,478 shares, compared to its average volume of 1,932,381. The company's 50 day simple moving average is $3.85 and its two-hundred day simple moving average is $3.68. The company has a market cap of $945.44 million, a P/E ratio of -41.25 and a beta of 1.61. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $6.16.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.07. The business had revenue of $32.01 million for the quarter, compared to analysts' expectations of $26.40 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. As a group, research analysts predict that Evolv Technologies will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Autumn Glory Partners LLC bought a new position in shares of Evolv Technologies during the 4th quarter worth $40,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Evolv Technologies during the 4th quarter worth $40,000. CW Advisors LLC bought a new position in shares of Evolv Technologies during the 1st quarter worth $33,000. Cibc World Markets Corp bought a new position in shares of Evolv Technologies during the 4th quarter worth $49,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Evolv Technologies during the 1st quarter worth $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.