Evolv Technologies (NASDAQ:EVLV) Shares Up 13% – What’s Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was up 13% on Wednesday . The company traded as high as $6.38 and last traded at $6.5550. Approximately 520,583 shares changed hands during trading, a decline of 82% from the average session volume of 2,914,823 shares. The stock had previously closed at $5.80.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EVLV. Weiss Ratings downgraded Evolv Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. TD Cowen reissued a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research report on Tuesday, June 9th. Finally, Zacks Research lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.67.

Evolv Technologies Price Performance

The firm has a 50-day simple moving average of $6.22 and a 200-day simple moving average of $6.13. The firm has a market cap of $1.12 billion, a P/E ratio of -27.13 and a beta of 1.77. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.24.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. The firm had revenue of $46.33 million during the quarter, compared to analyst estimates of $44.23 million. Evolv Technologies had a negative return on equity of 33.53% and a negative net margin of 22.75%. As a group, analysts forecast that Evolv Technologies Holdings, Inc. will post -0.18 EPS for the current year.

Institutional Trading of Evolv Technologies

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Evolv Technologies by 15.0% in the 4th quarter. Vanguard Group Inc. now owns 13,784,926 shares of the company’s stock valued at $98,700,000 after buying an additional 1,802,928 shares in the last quarter. Stoic Point Capital Management LLC raised its stake in shares of Evolv Technologies by 1.4% during the 1st quarter. Stoic Point Capital Management LLC now owns 5,765,507 shares of the company’s stock worth $34,881,000 after acquiring an additional 77,751 shares in the last quarter. Emerald Advisers LLC raised its stake in shares of Evolv Technologies by 3.9% during the 1st quarter. Emerald Advisers LLC now owns 4,333,055 shares of the company’s stock worth $26,215,000 after acquiring an additional 161,812 shares in the last quarter. Millennium Management LLC lifted its position in Evolv Technologies by 194.6% during the third quarter. Millennium Management LLC now owns 4,187,604 shares of the company’s stock valued at $31,616,000 after acquiring an additional 2,766,335 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Evolv Technologies by 17.9% during the fourth quarter. Geode Capital Management LLC now owns 3,680,421 shares of the company’s stock valued at $26,357,000 after acquiring an additional 557,703 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

About Evolv Technologies

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.