Evolv Technologies (NASDAQ:EVLV) Upgraded to “Outperform” at Northland Securities

Evolv Technologies (NASDAQ:EVLV) was upgraded by Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday,Finviz reports. The brokerage presently has a $7.50 target price on the stock. Northland Securities’ target price points to a potential upside of 35.38% from the stock’s current price.

Separately, Lake Street Capital lifted their target price on Evolv Technologies from $2.75 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, April 30th.

Evolv Technologies Stock Performance

NASDAQ EVLV opened at $5.54 on Wednesday. Evolv Technologies has a fifty-two week low of $2.04 and a fifty-two week high of $6.07. The stock has a 50-day simple moving average of $3.63 and a two-hundred day simple moving average of $3.57. The firm has a market capitalization of $905.62 million, a P/E ratio of -39.57 and a beta of 1.61.

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, topping analysts’ consensus estimates of ($0.08) by $0.07. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. The company had revenue of $32.01 million during the quarter, compared to the consensus estimate of $26.40 million. As a group, analysts forecast that Evolv Technologies will post -0.27 earnings per share for the current year.

Institutional Trading of Evolv Technologies

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Evolv Technologies by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company’s stock valued at $296,000 after buying an additional 3,276 shares during the period. American Century Companies Inc. lifted its stake in shares of Evolv Technologies by 6.1% in the 1st quarter. American Century Companies Inc. now owns 63,315 shares of the company’s stock valued at $198,000 after acquiring an additional 3,633 shares during the last quarter. Mariner LLC raised its holdings in Evolv Technologies by 15.9% in the fourth quarter. Mariner LLC now owns 26,532 shares of the company’s stock worth $105,000 after purchasing an additional 3,639 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Evolv Technologies by 5.1% in the first quarter. MetLife Investment Management LLC now owns 91,042 shares of the company’s stock worth $284,000 after acquiring an additional 4,412 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Evolv Technologies by 8.5% in the third quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock worth $245,000 after buying an additional 4,756 shares in the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

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.