Evolv Technologies (NASDAQ:EVLV) Cut to “Market Perform” at Northland Securities

Northland Securities cut shares of Evolv Technologies (NASDAQ:EVLV) from an outperform rating to a market perform rating in a research note released on Monday morning, MarketBeat Ratings reports.

Evolv Technologies Price Performance

NASDAQ EVLV opened at $2.15 on Monday. The company has a market capitalization of $338.73 million, a P/E ratio of -15.36 and a beta of 1.25. Evolv Technologies has a 1-year low of $2.01 and a 1-year high of $5.73. The business has a 50 day moving average price of $3.87 and a 200 day moving average price of $3.34.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.15. The firm had revenue of $25.54 million during the quarter, compared to the consensus estimate of $23.57 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. On average, research analysts expect that Evolv Technologies will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolv Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of EVLV. Vanguard Group Inc. raised its holdings in shares of Evolv Technologies by 6.0% in the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock worth $32,013,000 after acquiring an additional 407,396 shares during the last quarter. Key Colony Management LLC increased its position in Evolv Technologies by 12.1% during the 3rd quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after purchasing an additional 545,492 shares in the last quarter. Sapient Capital LLC raised its stake in Evolv Technologies by 7.3% in the 2nd quarter. Sapient Capital LLC now owns 737,136 shares of the company’s stock valued at $1,880,000 after purchasing an additional 50,400 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in Evolv Technologies in the 1st quarter valued at about $2,897,000. Finally, Marathon Capital Management boosted its stake in shares of 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 purchasing an additional 32,000 shares during the last quarter. Hedge funds and other 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.