Brokerages Set Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) PT at $6.50

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has received an average rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.50.

EVLV has been the topic of several research reports. Cantor Fitzgerald upgraded Evolv Technologies to a “strong-buy” rating in a research note on Wednesday, May 21st. Wall Street Zen upgraded Evolv Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Lake Street Capital raised their price target on Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Northland Securities upgraded Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 target price on the stock in a research note on Wednesday, May 21st. Finally, Northland Capmk upgraded Evolv Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 20th.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVLV. Vanguard Group Inc. grew its stake in shares of Evolv Technologies by 5.3% during the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock worth $29,336,000 after acquiring an additional 477,124 shares during the last quarter. Edge Capital Group LLC grew its stake in shares of Evolv Technologies by 0.8% during the fourth quarter. Edge Capital Group LLC now owns 4,835,206 shares of the company’s stock worth $19,099,000 after acquiring an additional 36,400 shares during the last quarter. SCS Capital Management LLC purchased a new stake in shares of Evolv Technologies during the first quarter worth about $15,061,000. Marshall Wace LLP grew its stake in shares of Evolv Technologies by 317.1% during the fourth quarter. Marshall Wace LLP now owns 3,275,025 shares of the company’s stock worth $12,936,000 after acquiring an additional 2,489,825 shares during the last quarter. Finally, Key Colony Management LLC grew its stake in shares of Evolv Technologies by 1.4% during the first quarter. Key Colony Management LLC now owns 3,043,000 shares of the company’s stock worth $9,494,000 after acquiring an additional 43,000 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Evolv Technologies Trading Up 5.7%

Shares of Evolv Technologies stock opened at $5.53 on Monday. The firm has a market cap of $906.92 million, a P/E ratio of -19.75 and a beta of 1.68. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $6.16. The stock’s fifty day moving average price is $4.64 and its 200-day moving average price is $3.95.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.07. The firm had revenue of $32.01 million for the quarter, compared to analyst estimates of $26.40 million. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. Analysts forecast that Evolv Technologies will post -0.27 earnings per share for the current year.

Evolv Technologies Company Profile

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.