Evolv Technologies (NASDAQ:EVLV) Stock Price Down 3.8% – Should You Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares dropped 3.8% on Monday . The company traded as low as $3.74 and last traded at $3.82. Approximately 258,821 shares traded hands during trading, a decline of 73% from the average daily volume of 947,596 shares. The stock had previously closed at $3.97.

Analyst Ratings Changes

EVLV has been the topic of a number of recent research reports. TD Cowen lowered shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. Lake Street Capital lowered their price target on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research report on Monday, October 28th. Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.60.

Evolv Technologies Trading Down 5.0 %

The company has a market capitalization of $593.96 million, a price-to-earnings ratio of -26.93 and a beta of 1.67. The firm’s fifty day simple moving average is $3.38 and its two-hundred day simple moving average is $3.46.

Institutional Investors Weigh In On Evolv Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Evolv Technologies by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock valued at $245,000 after acquiring an additional 4,756 shares during the period. Virtu Financial LLC purchased a new stake in Evolv Technologies during the 3rd quarter worth approximately $63,000. Barclays PLC increased its stake in Evolv Technologies by 352.3% during the 3rd quarter. Barclays PLC now owns 211,551 shares of the company’s stock worth $856,000 after buying an additional 164,775 shares during the period. Geode Capital Management LLC increased its stake in Evolv Technologies by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock worth $11,426,000 after buying an additional 355,611 shares during the period. Finally, Wexford Capital LP purchased a new stake in Evolv Technologies during the 3rd quarter worth approximately $810,000. 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.