Evolv Technologies (NASDAQ:EVLV) Upgraded to "Outperform" at Northland Securities

Evolv Technologies (NASDAQ:EVLV - Get Free Report) was upgraded by investment analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a $7.50 price target on the stock. Northland Securities' price target would suggest a potential upside of 31.35% from the company's current price.

Separately, Lake Street Capital lifted their price objective on shares of Evolv Technologies from $2.75 to $4.00 and gave the stock a "hold" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

Evolv Technologies Stock Performance

Shares of NASDAQ EVLV traded down $0.30 during midday trading on Wednesday, reaching $5.71. The stock had a trading volume of 6,503,935 shares, compared to its average volume of 1,932,313. Evolv Technologies has a 12-month low of $2.04 and a 12-month high of $6.16. The company has a market capitalization of $936.42 million, a price-to-earnings ratio of -40.78 and a beta of 1.61. The stock has a 50-day moving average of $3.80 and a 200-day moving average of $3.66.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. The company 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 will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

A number of large investors have recently bought and sold shares of EVLV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 in the last quarter. American Century Companies Inc. raised its stake in Evolv Technologies by 6.1% in the first quarter. American Century Companies Inc. now owns 63,315 shares of the company's stock worth $198,000 after buying an additional 3,633 shares in the last quarter. Mariner LLC lifted its holdings in Evolv Technologies by 15.9% during the fourth quarter. Mariner LLC now owns 26,532 shares of the company's stock worth $105,000 after buying an additional 3,639 shares during the period. MetLife Investment Management LLC lifted its holdings in Evolv Technologies by 5.1% during the first quarter. MetLife Investment Management LLC now owns 91,042 shares of the company's stock worth $284,000 after buying an additional 4,412 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Evolv Technologies by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company's stock valued at $245,000 after buying an additional 4,756 shares in the last quarter. Hedge funds and other 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.