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

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

A number of brokerages have recently issued reports on EVLV. Cantor Fitzgerald upgraded shares of Evolv Technologies to a “strong-buy” rating in a report on Wednesday, May 21st. Lake Street Capital increased their price target on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a report on Wednesday, May 21st. Northland Securities upgraded shares of Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price target for the company in a report on Wednesday, May 21st. Northland Capmk upgraded shares of Evolv Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Evolv Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Evolv Technologies Stock Performance

EVLV stock opened at $6.98 on Tuesday. Evolv Technologies has a one year low of $2.04 and a one year high of $7.22. The stock has a market capitalization of $1.14 billion, a PE ratio of -24.93 and a beta of 1.70. The company has a fifty day moving average of $5.98 and a 200-day moving average of $4.56.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly 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. The business had revenue of $32.01 million during the quarter, compared to the consensus estimate of $26.40 million. Evolv Technologies had a negative net margin of 38.97% and a negative return on equity of 34.13%. Equities analysts forecast that Evolv Technologies will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Evolv Technologies by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock valued at $29,336,000 after acquiring an additional 477,124 shares in the last quarter. SCS Capital Management LLC purchased a new position in Evolv Technologies during the 1st quarter valued at about $15,061,000. Marshall Wace LLP increased its holdings in Evolv Technologies by 317.1% during the 4th quarter. Marshall Wace LLP now owns 3,275,025 shares of the company’s stock valued at $12,936,000 after acquiring an additional 2,489,825 shares in the last quarter. Key Colony Management LLC increased its holdings in Evolv Technologies by 2.0% during the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company’s stock valued at $19,375,000 after acquiring an additional 62,000 shares in the last quarter. Finally, CenterBook Partners LP increased its holdings in Evolv Technologies by 15.0% during the 4th quarter. CenterBook Partners LP now owns 3,008,643 shares of the company’s stock valued at $11,884,000 after acquiring an additional 393,563 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

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.