Evolv Technologies (NASDAQ:EVLV) Cut to Hold at Northland Capmk

Northland Capmk cut shares of Evolv Technologies (NASDAQ:EVLV) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday. Lake Street Capital decreased their target price on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Evolv Technologies currently has an average rating of “Hold” and an average target price of $5.60.

Evolv Technologies Trading Down 0.8 %

Shares of NASDAQ EVLV opened at $2.34 on Monday. The company has a market cap of $368.67 million, a price-to-earnings ratio of -16.71 and a beta of 1.25. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $5.73. The stock’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $3.35.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EVLV. First Bank & Trust acquired a new stake in shares of Evolv Technologies in the third quarter valued at approximately $52,000. Sequoia Financial Advisors LLC raised its holdings in shares of Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after buying an additional 5,100 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Evolv Technologies in the third quarter worth about $1,614,000. Key Colony Management LLC boosted its position in Evolv Technologies by 12.1% in the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after buying an additional 545,492 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Evolv Technologies during the 3rd quarter worth $44,000. 66.65% of the stock is owned by institutional investors and hedge funds.

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.