Evolv Technologies (NASDAQ:EVLV) Shares Up 3.1%

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shot up 3.1% during mid-day trading on Wednesday . The company traded as high as $4.30 and last traded at $4.27. 65,879 shares changed hands during trading, a decline of 96% from the average session volume of 1,530,623 shares. The stock had previously closed at $4.14.

Wall Street Analysts Forecast Growth

Separately, Northland Securities reduced their price target on Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.75.

Evolv Technologies Price Performance

The stock has a market capitalization of $658.69 million, a P/E ratio of -6.79 and a beta of 1.25. The company has a fifty day moving average of $3.46 and a two-hundred day moving average of $3.38.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.15. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. The firm had revenue of $25.54 million for the quarter, compared to analysts’ expectations of $23.57 million. As a group, equities research analysts predict that Evolv Technologies Holdings, Inc. will post -0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolv Technologies

Institutional investors have recently modified their holdings of the business. Ironwood Investment Management LLC acquired a new position in Evolv Technologies in the second quarter valued at approximately $724,000. The Manufacturers Life Insurance Company boosted its position in Evolv Technologies by 15.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,399 shares of the company’s stock valued at $134,000 after purchasing an additional 7,119 shares during the period. Marathon Capital Management grew its stake in Evolv Technologies by 6.5% during the 2nd quarter. Marathon Capital Management now owns 527,450 shares of the company’s stock worth $1,345,000 after buying an additional 32,000 shares during the last quarter. Resolute Capital Asset Partners LLC acquired a new stake in Evolv Technologies in the second quarter worth $510,000. Finally, Arizona State Retirement System boosted its holdings in shares of Evolv Technologies by 12.9% during the second quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock valued at $78,000 after acquiring an additional 3,490 shares during the period. 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.