Wall Street Zen Upgrades Evolv Technologies (NASDAQ:EVLV) to Hold

Evolv Technologies (NASDAQ:EVLV) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on EVLV. Craig Hallum restated a “buy” rating and issued a $11.25 price objective on shares of Evolv Technologies in a research note on Wednesday, August 12th. TD Cowen reiterated a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research report on Tuesday, June 9th. Zacks Research cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Evolv Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.42.

Evolv Technologies Trading Down 0.6%

EVLV opened at $5.21 on Friday. Evolv Technologies has a one year low of $4.86 and a one year high of $8.81. The stock has a market cap of $943.69 million, a price-to-earnings ratio of -173.67 and a beta of 1.80. The stock’s 50 day moving average price is $5.68 and its 200-day moving average price is $5.87. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.11 and a current ratio of 1.18.

Evolv Technologies (NASDAQ:EVLV) last issued its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%.The firm had revenue of $43.75 million during the quarter, compared to analysts’ expectations of $41.80 million. On average, equities analysts forecast that Evolv Technologies will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in EVLV. IFC & Insurance Marketing Inc. acquired a new position in Evolv Technologies in the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Evolv Technologies by 471.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,806 shares of the company’s stock valued at $49,000 after purchasing an additional 5,614 shares during the period. FNY Investment Advisers LLC grew its position in Evolv Technologies by 33.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $58,000 after purchasing an additional 2,500 shares in the last quarter. AlphaCore Capital LLC acquired a new position in shares of Evolv Technologies in the 4th quarter valued at about $72,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Evolv Technologies during the fourth quarter worth $72,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

Evolv Technologies Company Profile

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.