Evolv Technologies (NASDAQ:EVLV) Raised to "Strong-Buy" at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Evolv Technologies (NASDAQ:EVLV - Free Report) to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other equities analysts also recently weighed in on EVLV. Northland Securities raised shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price target on the stock in a report on Wednesday, May 21st. Lake Street Capital raised 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 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $6.50.

Evolv Technologies Price Performance

Shares of Evolv Technologies stock traded up $0.06 during trading on Wednesday, reaching $5.77. 1,830,478 shares of the company traded hands, compared to its average volume of 1,932,381. Evolv Technologies has a 1-year low of $2.04 and a 1-year high of $6.16. The company has a 50 day moving average price of $3.85 and a 200-day moving average price of $3.68. The firm has a market capitalization of $945.44 million, a PE ratio of -41.25 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $32.01 million for the quarter, compared to the consensus estimate of $26.40 million. Equities research analysts expect that Evolv Technologies will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CW Advisors LLC bought a new position in Evolv Technologies during the first quarter valued at approximately $33,000. Autumn Glory Partners LLC bought a new position in Evolv Technologies during the fourth quarter valued at approximately $40,000. B. Riley Wealth Advisors Inc. bought a new position in Evolv Technologies during the fourth quarter valued at approximately $40,000. Cibc World Markets Corp bought a new position in Evolv Technologies during the fourth quarter valued at approximately $49,000. Finally, Teacher Retirement System of Texas bought a new position in Evolv Technologies during the first quarter valued at approximately $50,000. 66.65% of the stock is currently owned by institutional investors.

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.