Evolv Technologies (NASDAQ:EVLV) Stock Price Up 13% – Here’s What Happened

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) traded up 13% during trading on Wednesday . The stock traded as high as $6.38 and last traded at $6.5550. Approximately 520,583 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 2,914,823 shares. The stock had previously closed at $5.80.

Wall Street Analyst Weigh In

EVLV has been the topic of several recent research reports. Zacks Research cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. TD Cowen restated a “buy” rating and set a $10.00 price target on shares of Evolv Technologies in a research report on Tuesday, June 9th. Finally, Weiss Ratings cut shares of Evolv Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.67.

Evolv Technologies Trading Up 12.5%

The company has a market capitalization of $1.17 billion, a PE ratio of -28.98 and a beta of 1.76. The company has a fifty day simple moving average of $6.23 and a 200-day simple moving average of $6.14. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.24.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $46.33 million for the quarter, compared to analyst estimates of $44.23 million. Evolv Technologies had a negative return on equity of 33.53% and a negative net margin of 22.75%. Analysts predict that Evolv Technologies Holdings, Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors have recently bought and sold shares of the company. IFC & Insurance Marketing Inc. acquired a new position in Evolv Technologies in the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its stake 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 buying an additional 5,614 shares during the period. FNY Investment Advisers LLC increased its holdings in shares of Evolv Technologies by 48.3% during the 4th quarter. FNY Investment Advisers LLC now owns 8,897 shares of the company’s stock worth $63,000 after buying an additional 2,897 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Evolv Technologies during the 4th quarter worth approximately $72,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Evolv Technologies during the 4th quarter valued at approximately $72,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

About Evolv Technologies

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.