Northland Capmk Upgrades Evolv Technologies (NASDAQ:EVLV) to “Strong-Buy”

Northland Capmk upgraded shares of Evolv Technologies (NASDAQ:EVLV) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

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

Evolv Technologies Trading Up 7.4%

Evolv Technologies stock opened at $5.95 on Tuesday. Evolv Technologies has a 1-year low of $2.04 and a 1-year high of $6.15. The firm has a market capitalization of $972.65 million, a PE ratio of -42.50 and a beta of 1.61. The firm’s 50 day simple moving average is $3.68 and its 200 day simple moving average is $3.59.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results 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. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. The firm had revenue of $32.01 million for the quarter, compared to analysts’ expectations of $26.40 million. Research analysts forecast that Evolv Technologies will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EVLV. JPMorgan Chase & Co. increased its position in shares of Evolv Technologies by 8.5% in the third quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock valued at $245,000 after acquiring an additional 4,756 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Evolv Technologies in the 4th quarter worth approximately $325,000. Westside Investment Management Inc. purchased a new stake in Evolv Technologies in the 4th quarter worth approximately $194,000. SG Americas Securities LLC increased its stake in shares of Evolv Technologies by 319.1% during the fourth quarter. SG Americas Securities LLC now owns 45,770 shares of the company’s stock valued at $181,000 after buying an additional 34,850 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Evolv Technologies by 11.0% during the fourth quarter. Blue Trust Inc. now owns 81,197 shares of the company’s stock valued at $329,000 after acquiring an additional 8,068 shares in the last quarter. Institutional investors own 66.65% of the company’s stock.

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.