Evolv Technologies (NASDAQ:EVLV) Downgraded to Strong Sell Rating by TD Cowen

TD Cowen cut shares of Evolv Technologies (NASDAQ:EVLV) from a strong-buy rating to a strong sell rating in a research report sent to investors on Monday morning, Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday. Lake Street Capital cut their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research report on Monday. Finally, Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Evolv Technologies currently has an average rating of “Hold” and a consensus target price of $5.60.

Evolv Technologies Trading Down 8.1 %

NASDAQ:EVLV opened at $2.15 on Monday. The firm has a market cap of $338.73 million, a price-to-earnings ratio of -15.36 and a beta of 1.25. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $5.73. The company has a 50-day moving average of $3.87 and a 200-day moving average of $3.34.

Evolv Technologies (NASDAQ:EVLV) last posted 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 the consensus estimate of $23.57 million. On average, research analysts forecast that Evolv Technologies will post -0.26 earnings per share for the current year.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new position in Evolv Technologies during the first quarter worth $45,000. SG Americas Securities LLC acquired a new stake in Evolv Technologies during the 3rd quarter worth $44,000. Foundations Investment Advisors LLC bought a new stake in shares of Evolv Technologies during the 2nd quarter valued at $30,000. First Bank & Trust bought a new position in Evolv Technologies during the third quarter worth about $52,000. Finally, Worth Financial Advisory Group LLC increased its stake in Evolv Technologies by 42.0% in the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after purchasing an additional 4,435 shares in the last quarter. 66.65% of the stock is owned by institutional investors.

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.