Lake Street Capital Cuts Evolv Technologies (NASDAQ:EVLV) Price Target to $2.75

Evolv Technologies (NASDAQ:EVLV) had its target price trimmed by Lake Street Capital from $3.50 to $2.75 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Separately, Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Evolv Technologies presently has an average rating of “Hold” and a consensus target price of $5.60.

Evolv Technologies Price Performance

NASDAQ:EVLV opened at $2.34 on Monday. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73. The stock’s fifty day moving average price is $3.90 and its two-hundred day moving average price is $3.35. The company has a market cap of $368.67 million, a P/E ratio of -16.71 and a beta of 1.25.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.15. The company had revenue of $25.54 million during the quarter, compared to analyst estimates of $23.57 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. On average, analysts expect that Evolv Technologies will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolv Technologies

Several hedge funds have recently bought and sold shares of the business. Resolute Capital Asset Partners LLC purchased a new position in shares of Evolv Technologies in the second quarter worth $510,000. Ironwood Investment Management LLC bought a new stake in Evolv Technologies during the second quarter valued at about $724,000. Wealthspire Advisors LLC lifted its position in shares of Evolv Technologies by 49.2% in the first quarter. Wealthspire Advisors LLC now owns 18,194 shares of the company’s stock valued at $81,000 after acquiring an additional 6,003 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Evolv Technologies during the first quarter valued at approximately $45,000. 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.