Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Receives Average Recommendation of “Hold” from Analysts

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has been given an average rating of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.60.

A number of equities research analysts have issued reports on EVLV shares. Northland Capmk downgraded shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Lake Street Capital decreased their price objective on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, TD Cowen cut Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th.

Institutional Investors Weigh In On Evolv Technologies

Hedge funds have recently made changes to their positions in the stock. First Bank & Trust bought a new position in Evolv Technologies in the 3rd quarter valued at approximately $52,000. Sequoia Financial Advisors LLC increased its holdings in shares of Evolv Technologies by 50.5% during the third 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 3rd quarter valued at $1,614,000. Key Colony Management LLC boosted its holdings in shares of Evolv Technologies by 12.1% during the 3rd quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after acquiring 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 currently owned by institutional investors and hedge funds.

Evolv Technologies Trading Up 10.2 %

NASDAQ EVLV opened at $2.37 on Tuesday. The company has a 50 day moving average of $3.83 and a 200-day moving average of $3.33. Evolv Technologies has a 1-year low of $2.01 and a 1-year high of $5.73.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings data 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 analysts’ expectations of $23.57 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. Sell-side analysts expect that Evolv Technologies will post -0.26 earnings per share for the current fiscal year.

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.