Evolv Technologies (NASDAQ:EVLV) Cut to “Market Perform” at Northland Securities

Northland Securities lowered shares of Evolv Technologies (NASDAQ:EVLV) from an outperform rating to a market perform rating in a research report report published on Monday morning, Marketbeat reports.

Evolv Technologies Trading Down 0.8 %

Shares of Evolv Technologies stock opened at $2.34 on Monday. Evolv Technologies has a 12 month low of $2.01 and a 12 month high of $5.73. The company has a market capitalization of $368.67 million, a PE ratio of -16.71 and a beta of 1.25. The stock’s fifty day simple moving average is $3.90 and its 200 day simple moving average is $3.35.

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

Institutional Investors Weigh In On Evolv Technologies

A number of institutional investors and hedge funds have recently modified their holdings of EVLV. Sequoia Financial Advisors LLC acquired a new position in Evolv Technologies during the first quarter worth approximately $45,000. SG Americas Securities LLC bought a new stake in Evolv Technologies in the 3rd quarter valued at $44,000. Foundations Investment Advisors LLC acquired a new stake in Evolv Technologies during the 2nd quarter valued at $30,000. First Bank & Trust bought a new position in Evolv Technologies during the third quarter worth $52,000. Finally, Worth Financial Advisory Group LLC increased its holdings in shares of Evolv Technologies by 42.0% in the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after purchasing an additional 4,435 shares during the last quarter. 66.65% of the stock is owned by institutional investors.

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.