Evolv Technologies (NASDAQ:EVLV) Rating Increased to Outperform at Northland Securities

Northland Securities upgraded shares of Evolv Technologies (NASDAQ:EVLV) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $7.50 target price on the stock.

Separately, Lake Street Capital boosted their price objective on Evolv Technologies from $2.75 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, April 30th.

Evolv Technologies Price Performance

Shares of EVLV stock opened at $5.95 on Wednesday. Evolv Technologies has a one year low of $2.04 and a one year high of $6.15. The business’s 50 day simple moving average is $3.68 and its 200 day simple moving average is $3.59. The stock has a market capitalization of $972.65 million, a PE ratio of -42.50 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) 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 analyst estimates of $26.40 million. As a group, research analysts expect that Evolv Technologies will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors have recently bought and sold shares of EVLV. CW Advisors LLC bought a new stake in shares of Evolv Technologies in the first quarter valued at $33,000. Autumn Glory Partners LLC purchased a new stake in Evolv Technologies during the fourth quarter valued at about $40,000. B. Riley Wealth Advisors Inc. purchased a new stake in Evolv Technologies during the fourth quarter valued at about $40,000. Cibc World Markets Corp bought a new position in Evolv Technologies during the fourth quarter worth about $49,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Evolv Technologies in the first quarter worth about $50,000. 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.