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

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

Other equities analysts have also issued research reports about the company. Lake Street Capital lowered Evolv Technologies from a buy rating to a hold rating and cut their target price for the company from $6.00 to $3.50 in a research note on Friday, May 10th. TD Cowen cut their target price on Evolv Technologies from $7.00 to $6.00 and set a buy rating on the stock in a research note on Friday, May 10th. Finally, Cantor Fitzgerald reissued an overweight rating and issued a $8.00 target price on shares of Evolv Technologies in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $5.65.

Evolv Technologies Stock Down 6.1 %

Shares of EVLV opened at $2.76 on Monday. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $8.30. The firm has a market capitalization of $430.81 million, a PE ratio of -4.52 and a beta of 1.37. The stock’s fifty day simple moving average is $3.80 and its 200-day simple moving average is $4.21.

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

Insider Buying and Selling

In other news, Director David Mounts Gonzales purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $3.86 per share, with a total value of $193,000.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $193,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds have recently added to or reduced their stakes in EVLV. Key Colony Management LLC increased its stake in Evolv Technologies by 64.5% during the 1st 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 during the period. Glenview Capital Management LLC increased its stake in Evolv Technologies by 21.7% during the 4th quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock worth $26,427,000 after acquiring an additional 1,000,000 shares during the period. Sapient Capital LLC bought a new position in Evolv Technologies during the 4th quarter worth $3,188,000. Silvercrest Asset Management Group LLC bought a new position in Evolv Technologies during the 1st quarter worth $2,897,000. Finally, Nomura Holdings Inc. bought a new position in Evolv Technologies during the 3rd quarter worth $2,138,000. Institutional investors own 66.65% of the company’s stock.

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.