Salem Investment Counselors Inc. Raises Stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Salem Investment Counselors Inc. increased its stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 18.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,500 shares of the company’s stock after buying an additional 10,000 shares during the period. Salem Investment Counselors Inc.’s holdings in Evolv Technologies were worth $201,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EVLV. Autumn Glory Partners LLC bought a new position in Evolv Technologies in the 4th quarter worth about $40,000. B. Riley Wealth Advisors Inc. bought a new position in Evolv Technologies in the fourth quarter worth approximately $40,000. Cibc World Markets Corp purchased a new position in Evolv Technologies during the 4th quarter worth $49,000. Clare Market Investments LLC purchased a new position in Evolv Technologies during the 4th quarter worth $71,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Evolv Technologies in the 4th quarter worth $73,000. Institutional investors own 66.65% of the company’s stock.

Wall Street Analyst Weigh In

EVLV has been the topic of several research reports. Northland Securities upgraded Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price target on the stock in a research note on Wednesday, May 21st. Lake Street Capital raised their target price on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Cantor Fitzgerald upgraded shares of Evolv Technologies to a “strong-buy” rating in a report on Wednesday, May 21st. Northland Capmk upgraded Evolv Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.50.

Evolv Technologies Price Performance

EVLV stock opened at $5.05 on Friday. Evolv Technologies Holdings, Inc. has a 12 month low of $2.04 and a 12 month high of $6.16. The company has a market capitalization of $828.18 million, a P/E ratio of -36.07 and a beta of 1.68. The firm’s fifty day simple moving average is $4.51 and its 200-day simple moving average is $3.92.

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

Evolv Technologies 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.