Evolv Technologies (NASDAQ:EVLV) Shares Gap Up to $3.74

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) gapped up before the market opened on Friday . The stock had previously closed at $3.74, but opened at $3.84. Evolv Technologies shares last traded at $3.76, with a volume of 96,769 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EVLV. Northland Securities dropped their price target on Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Craig Hallum initiated coverage on Evolv Technologies in a research note on Monday, May 20th. They issued a “buy” rating and a $5.75 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.75.

Evolv Technologies Stock Down 3.5 %

The company has a market capitalization of $563.47 million, a PE ratio of -5.92 and a beta of 1.25. The stock has a 50-day moving average of $3.28 and a 200 day moving average of $3.41.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.15. The company had revenue of $25.54 million during the quarter, compared to the consensus estimate of $23.57 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. Equities analysts forecast that Evolv Technologies Holdings, Inc. will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. MCF Advisors LLC grew its holdings in Evolv Technologies by 84.5% during the first quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock valued at $29,000 after purchasing an additional 3,000 shares during the period. Sequoia Financial Advisors LLC bought a new position in Evolv Technologies during the first quarter valued at $45,000. Worth Venture Partners LLC bought a new position in Evolv Technologies during the fourth quarter valued at $53,000. Foundations Investment Advisors LLC bought a new position in Evolv Technologies during the second quarter valued at $30,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Evolv Technologies by 26.2% in the fourth quarter. Victory Capital Management Inc. now owns 12,682 shares of the company’s stock worth $60,000 after acquiring an additional 2,629 shares during the period. 66.65% of the stock is owned by institutional investors.

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.