Evolv Technologies (NASDAQ:EVLV) Cut to “Market Perform” at Northland Securities

Northland Securities downgraded shares of Evolv Technologies (NASDAQ:EVLV) from an outperform rating to a market perform rating in a report published on Monday, MarketBeat Ratings reports.

Evolv Technologies Trading Up 2.0 %

Evolv Technologies stock opened at $2.52 on Monday. The company has a fifty day simple moving average of $3.94 and a 200-day simple moving average of $3.37. The stock has a market cap of $397.03 million, a P/E ratio of -18.00 and a beta of 1.25. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $5.73.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.15. The company had revenue of $25.54 million during the quarter, compared to the consensus estimate of $23.57 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. As a group, sell-side analysts forecast that Evolv Technologies will post -0.26 earnings per share for the current fiscal year.

Institutional Trading of Evolv Technologies

Several institutional investors have recently modified their holdings of EVLV. Foundations Investment Advisors LLC acquired a new stake in Evolv Technologies during the 2nd quarter worth $30,000. Worth Financial Advisory Group LLC increased its position in shares of 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 purchasing an additional 4,435 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Evolv Technologies in the 3rd quarter valued at about $44,000. Principal Financial Group Inc. boosted its position in shares of Evolv Technologies by 30.5% in the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock valued at $45,000 after purchasing an additional 4,127 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in Evolv Technologies during the 1st quarter worth approximately $45,000. 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.