Evolv Technologies (NASDAQ:EVLV) Research Coverage Started at Craig Hallum

Craig Hallum began coverage on shares of Evolv Technologies (NASDAQ:EVLV) in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $5.75 target price on the stock.

EVLV has been the topic of a number of other research reports. TD Cowen lowered their target price on Evolv Technologies from $7.00 to $6.00 and set a buy rating on the stock in a research report on Friday, May 10th. Lake Street Capital downgraded Evolv Technologies from a buy rating to a hold rating and lowered their target price for the company from $6.00 to $3.50 in a research report on Friday, May 10th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $8.00 target price on shares of Evolv Technologies in a research report on Thursday, March 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Evolv Technologies presently has a consensus rating of Moderate Buy and a consensus target price of $5.65.

Evolv Technologies Price Performance

EVLV stock opened at $2.76 on Monday. The business has a fifty day moving average price of $3.80 and a 200 day moving average price of $4.21. The stock has a market capitalization of $430.81 million, a price-to-earnings ratio of -4.52 and a beta of 1.37. Evolv Technologies has a fifty-two week low of $2.01 and a fifty-two week high of $8.30.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. The business had revenue of $21.67 million for the quarter, compared to analyst estimates of $23.17 million. Evolv Technologies had a negative return on equity of 45.57% and a negative net margin of 106.93%. During the same period last year, the company earned ($0.15) EPS. On average, equities analysts expect that Evolv Technologies will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolv Technologies

In related news, insider Anil Chitkara sold 50,000 shares of Evolv Technologies stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the sale, the insider now owns 1,200,157 shares of the company’s stock, valued at approximately $6,000,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Evolv Technologies by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after purchasing an additional 407,396 shares in the last quarter. Glenview Capital Management LLC grew its position in shares of Evolv Technologies by 21.7% during the 4th quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after purchasing an additional 1,000,000 shares in the last quarter. Edge Capital Group LLC grew its position in shares of Evolv Technologies by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 4,819,327 shares of the company’s stock valued at $22,747,000 after purchasing an additional 56,500 shares in the last quarter. Key Colony Management LLC grew its position in Evolv Technologies by 64.5% in the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock worth $20,368,000 after acquiring an additional 1,795,099 shares in the last quarter. Finally, Sapient Capital LLC grew its position in Evolv Technologies by 1.7% in the first quarter. Sapient Capital LLC now owns 686,736 shares of the company’s stock worth $3,056,000 after acquiring an additional 11,400 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other 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.