Lake Street Capital Issues Positive Forecast for Evolv Technologies (NASDAQ:EVLV) Stock Price

Evolv Technologies (NASDAQ:EVLV - Get Free Report) had its target price boosted by Lake Street Capital from $4.00 to $5.50 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Lake Street Capital's price target suggests a potential downside of 3.68% from the company's previous close.

Separately, Northland Securities upgraded 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $6.50.

Evolv Technologies Price Performance

Shares of NASDAQ EVLV traded down $0.30 during mid-day trading on Wednesday, hitting $5.71. The company's stock had a trading volume of 6,503,935 shares, compared to its average volume of 1,932,313. Evolv Technologies has a one year low of $2.04 and a one year high of $6.16. The company's fifty day simple moving average is $3.80 and its 200-day simple moving average is $3.66. The stock has a market cap of $936.42 million, a price-to-earnings ratio of -40.78 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.07. The business had revenue of $32.01 million during 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%. On average, sell-side analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

Institutional Investors Weigh In On Evolv Technologies

Institutional investors have recently added to or reduced their stakes in the stock. SCS Capital Management LLC acquired a new position in Evolv Technologies during the 1st quarter worth approximately $15,061,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Evolv Technologies by 6.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,928 shares of the company's stock worth $249,000 after purchasing an additional 5,050 shares in the last quarter. Josh Arnold Investment Consultant LLC acquired a new position in Evolv Technologies during the first quarter worth $1,248,000. PDT Partners LLC acquired a new position in shares of Evolv Technologies during the 1st quarter worth about $57,000. Finally, MetLife Investment Management LLC grew its stake in Evolv Technologies by 5.1% in the first 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 in the last quarter. 66.65% of the stock is 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.