Evolv Technologies (NASDAQ:EVLV) Trading Up 4.8% – Should You Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares rose 4.8% on Monday . The stock traded as high as $5.68 and last traded at $5.72. Approximately 1,135,204 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 1,831,985 shares. The stock had previously closed at $5.46.

Analyst Ratings Changes

Separately, Lake Street Capital increased their price objective on Evolv Technologies from $2.75 to $4.00 and gave the company a “hold” rating in a report on Wednesday, April 30th.

Evolv Technologies Trading Down 3.5%

The stock has a market capitalization of $905.62 million, a PE ratio of -39.57 and a beta of 1.61. The company’s 50-day moving average is $3.63 and its 200 day moving average is $3.57.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $32.01 million for the quarter, compared to analyst estimates of $26.40 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. Sell-side analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SCS Capital Management LLC acquired a new position in Evolv Technologies in the 1st quarter worth approximately $15,061,000. Marshall Wace LLP grew its position in Evolv Technologies by 317.1% during the 4th quarter. Marshall Wace LLP now owns 3,275,025 shares of the company’s stock worth $12,936,000 after purchasing an additional 2,489,825 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Evolv Technologies by 2,428.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company’s stock valued at $6,036,000 after buying an additional 1,467,538 shares during the period. Vanguard Group Inc. grew its holdings in Evolv Technologies by 5.3% during the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock worth $29,336,000 after acquiring an additional 477,124 shares during the period. Finally, Josh Arnold Investment Consultant LLC purchased a new position in Evolv Technologies during the first quarter valued at approximately $1,248,000. Hedge funds and other institutional investors own 66.65% of the company’s stock.

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.