Evolv Technologies (NASDAQ:EVLV) Receives New Coverage from Analysts at Craig Hallum

Craig Hallum began coverage on shares of Evolv Technologies (NASDAQ:EVLV) in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $5.75 price objective on the stock.

Several other research firms also recently weighed in on EVLV. Lake Street Capital downgraded shares of Evolv Technologies from a buy rating to a hold rating and dropped their target price for the stock from $6.00 to $3.50 in a research report on Friday, May 10th. TD Cowen dropped their target price on shares of Evolv Technologies from $7.00 to $6.00 and set a buy rating on the stock in a research report on Friday, May 10th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $8.00 target price on shares of Evolv Technologies in a research report on Thursday, March 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Evolv Technologies currently has an average rating of Moderate Buy and a consensus price target of $5.65.

Evolv Technologies Stock Down 2.9 %

Shares of NASDAQ EVLV opened at $2.68 on Monday. The firm has a market cap of $418.32 million, a PE ratio of -4.39 and a beta of 1.37. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $8.30. The business has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $4.20.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. Evolv Technologies had a negative net margin of 106.93% and a negative return on equity of 45.57%. The business had revenue of $21.67 million during the quarter, compared to the consensus estimate of $23.17 million. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, research analysts expect that Evolv Technologies will post -0.48 earnings per share for the current year.

Insider Buying and Selling at Evolv Technologies

In other Evolv Technologies news, insider Anil Chitkara sold 50,000 shares of Evolv Technologies stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider now directly owns 1,200,157 shares in the company, valued at approximately $6,000,785. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 11.20% of the company’s stock.

Institutional Trading of Evolv Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Sapient Capital LLC acquired a new stake in Evolv Technologies during the 4th quarter valued at approximately $3,188,000. HighTower Advisors LLC raised its position in Evolv Technologies by 1.5% during the third quarter. HighTower Advisors LLC now owns 171,397 shares of the company’s stock worth $833,000 after acquiring an additional 2,489 shares during the period. Nomura Holdings Inc. acquired a new position in Evolv Technologies during the third quarter worth $2,138,000. Key Colony Management LLC raised its position in Evolv Technologies by 157.8% during the fourth quarter. Key Colony Management LLC now owns 2,781,928 shares of the company’s stock worth $13,131,000 after acquiring an additional 1,702,928 shares during the period. Finally, Quent Capital LLC raised its position in Evolv Technologies by 53.8% during the fourth quarter. Quent Capital LLC now owns 20,000 shares of the company’s stock worth $94,000 after acquiring an additional 7,000 shares during the period. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.