Evolv Technologies (NASDAQ:EVLV) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Evolv Technologies (NASDAQ:EVLV) had its price target increased by Lake Street Capital from $4.00 to $5.50 in a research note released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Separately, Northland Securities upgraded Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 target price on the stock in a research note on Wednesday.

Evolv Technologies Stock Performance

Shares of EVLV stock opened at $5.95 on Wednesday. The company has a market capitalization of $972.65 million, a price-to-earnings ratio of -42.50 and a beta of 1.61. Evolv Technologies has a one year low of $2.04 and a one year high of $6.15. The company’s 50-day moving average is $3.68 and its 200 day moving average is $3.59.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $32.01 million for the quarter, compared to analysts’ expectations of $26.40 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. As a group, research analysts predict that Evolv Technologies will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Evolv Technologies by 2,428.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company’s stock valued at $6,036,000 after acquiring an additional 1,467,538 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Evolv Technologies during the fourth quarter valued at approximately $899,000. Vanguard Group Inc. boosted its holdings in Evolv Technologies by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company’s stock worth $35,256,000 after purchasing an additional 238,963 shares during the last quarter. MIG Capital LLC purchased a new stake in Evolv Technologies in the fourth quarter worth approximately $375,000. Finally, Raymond James Financial Inc. bought a new stake in Evolv Technologies in the 4th quarter worth approximately $84,000. 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.