Evolv Technologies (NASDAQ:EVLV) Stock Rating Upgraded by Northland Capmk

Evolv Technologies (NASDAQ:EVLV) was upgraded by equities researchers at Northland Capmk from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on EVLV. Lake Street Capital lifted their target price on Evolv Technologies from $4.00 to $5.50 and gave the stock a “hold” rating in a report on Wednesday. Northland Securities upgraded shares of Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a research note on Wednesday. Finally, Cantor Fitzgerald upgraded shares of Evolv Technologies to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.50.

Evolv Technologies Stock Up 7.4%

EVLV stock opened at $5.95 on Tuesday. The firm has a market cap of $972.65 million, a price-to-earnings ratio of -42.50 and a beta of 1.61. The company’s fifty day simple moving average is $3.68 and its 200 day simple moving average is $3.59. Evolv Technologies has a 12-month low of $2.04 and a 12-month high of $6.15.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The firm had revenue of $32.01 million during the quarter, compared to analyst estimates of $26.40 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. Research analysts expect that Evolv Technologies will post -0.27 earnings per share for the current year.

Institutional Trading of Evolv Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 4,756 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Evolv Technologies during the fourth quarter worth approximately $325,000. Westside Investment Management Inc. bought a new position in shares of Evolv Technologies in the 4th quarter worth $194,000. SG Americas Securities LLC grew its position in Evolv Technologies by 319.1% in the 4th quarter. SG Americas Securities LLC now owns 45,770 shares of the company’s stock valued at $181,000 after purchasing an additional 34,850 shares during the period. Finally, Blue Trust Inc. grew its position in Evolv Technologies by 11.0% in the 4th quarter. Blue Trust Inc. now owns 81,197 shares of the company’s stock valued at $329,000 after purchasing an additional 8,068 shares during the period. 66.65% of the stock is 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.