Evolv Technologies (NASDAQ:EVLV) Shares Gap Up to $3.74

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price gapped up prior to trading on Friday . The stock had previously closed at $3.74, but opened at $3.84. Evolv Technologies shares last traded at $3.76, with a volume of 96,769 shares trading hands.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Northland Securities dropped their target price on Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating on the stock in a report on Monday, August 12th. Craig Hallum initiated coverage on Evolv Technologies in a research note on Monday, May 20th. They set a “buy” rating and a $5.75 target price on the stock. Lake Street Capital lowered Evolv Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $6.00 to $3.50 in a research note on Friday, May 10th. Finally, TD Cowen reduced their price target 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.75.

Evolv Technologies Trading Down 2.9 %

The company has a market capitalization of $566.60 million, a P/E ratio of -6.13 and a beta of 1.24. The stock has a 50 day moving average price of $3.26 and a 200 day moving average price of $3.43.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.15. The firm had revenue of $25.54 million for the quarter, compared to analyst estimates of $23.57 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. On average, research analysts predict that Evolv Technologies Holdings, Inc. will post -0.26 EPS for the current year.

Institutional Trading of Evolv Technologies

Institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC raised its holdings in Evolv Technologies by 84.5% during the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock worth $29,000 after purchasing an additional 3,000 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Evolv Technologies during the second quarter worth $30,000. Worth Financial Advisory Group LLC raised its stake in Evolv Technologies by 42.0% during the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock worth $38,000 after buying an additional 4,435 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Evolv Technologies in the first quarter valued at $45,000. Finally, Principal Financial Group Inc. boosted its position in Evolv Technologies by 30.5% during the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock valued at $45,000 after acquiring an additional 4,127 shares during the last quarter. 66.65% of the stock is currently owned by 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.