Evolv Technologies (NASDAQ:EVLV) Trading Down 2.9%

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report)'s share price fell 2.9% during trading on Tuesday . The company traded as low as $4.27 and last traded at $4.29. 127,927 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,543,272 shares. The stock had previously closed at $4.42.

Analyst Ratings Changes

Separately, Northland Securities cut their target price on Evolv Technologies from $6.50 to $5.50 and set an "outperform" rating on the stock in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

Evolv Technologies Stock Performance

The stock has a market cap of $655.57 million, a PE ratio of -6.89 and a beta of 1.25. The stock's 50-day moving average is $3.63 and its two-hundred day moving average is $3.40.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.15. The company had revenue of $25.54 million for the quarter, compared to analysts' expectations of $23.57 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. Analysts forecast that Evolv Technologies Holdings, Inc. will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVLV. Victory Capital Management Inc. raised its position in Evolv Technologies by 26.2% in the fourth quarter. Victory Capital Management Inc. now owns 12,682 shares of the company's stock valued at $60,000 after purchasing an additional 2,629 shares during the period. MCF Advisors LLC boosted its stake in shares of Evolv Technologies by 84.5% in the first quarter. MCF Advisors LLC now owns 6,549 shares of the company's stock valued at $29,000 after purchasing an additional 3,000 shares during the period. Arizona State Retirement System grew its holdings in Evolv Technologies by 12.9% during the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company's stock valued at $78,000 after purchasing an additional 3,490 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Evolv Technologies by 30.5% during the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company's stock valued at $45,000 after purchasing an additional 4,127 shares in the last quarter. Finally, Worth Financial Advisory Group LLC increased its stake in Evolv Technologies by 42.0% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company's stock worth $38,000 after buying an additional 4,435 shares during the period. 66.65% of the stock is owned by hedge funds and other institutional investors.

About Evolv Technologies

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.