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

Evolv Technologies (NASDAQ:EVLV) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Briefing.com reports.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV opened at $2.53 on Monday. The company’s 50 day simple moving average is $3.96 and its 200 day simple moving average is $3.38. The stock has a market capitalization of $394.90 million, a price-to-earnings ratio of -4.16 and a beta of 1.25. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.15. The business 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%. As a group, analysts anticipate that Evolv Technologies will post -0.26 EPS for the current fiscal year.

Institutional Trading of Evolv Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Bank & Trust bought a new stake in shares of Evolv Technologies during the third quarter worth $52,000. Sequoia Financial Advisors LLC grew its stake in shares of Evolv Technologies by 50.5% during the third quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after buying an additional 5,100 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Evolv Technologies in the third quarter worth $1,614,000. Key Colony Management LLC grew its stake in shares of Evolv Technologies by 12.1% in the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after purchasing an additional 545,492 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Evolv Technologies in the third quarter worth $44,000. Institutional investors own 66.65% of the company’s stock.

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.