Evolv Technologies (NASDAQ:EVLV) Reaches New 12-Month High After Analyst Upgrade

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s stock price reached a new 52-week high during mid-day trading on Thursday after Lake Street Capital raised their price target on the stock from $4.00 to $5.50. Lake Street Capital currently has a hold rating on the stock. Evolv Technologies traded as high as $6.15 and last traded at $5.95, with a volume of 9067829 shares changing hands. The stock had previously closed at $5.54.

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

Institutional Trading of Evolv Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of EVLV. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 4,756 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Evolv Technologies in the fourth quarter valued at approximately $325,000. Westside Investment Management Inc. acquired a new stake in shares of Evolv Technologies in the fourth quarter valued at approximately $194,000. SG Americas Securities LLC increased its holdings in shares of Evolv Technologies by 319.1% in the fourth 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 in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Evolv Technologies by 11.0% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

Evolv Technologies Stock Up 7.4%

The business’s fifty day moving average is $3.68 and its two-hundred day moving average is $3.59. The firm has a market cap of $972.65 million, a price-to-earnings ratio of -42.50 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $26.40 million. Research analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current year.

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.