Evolv Technologies (NASDAQ:EVLV) Shares Up 3.7% – What’s Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shot up 3.7% during trading on Friday . The company traded as high as $3.61 and last traded at $3.61. 229,466 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,761,353 shares. The stock had previously closed at $3.48.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EVLV shares. Lake Street Capital dropped their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a report on Monday, October 28th. TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. Northland Capmk lowered Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.60.

Evolv Technologies Stock Performance

The firm has a market capitalization of $598.69 million, a PE ratio of -27.14 and a beta of 1.67. The firm has a fifty day moving average of $3.41 and a 200 day moving average of $3.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System lifted its holdings in Evolv Technologies by 12.9% in the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock worth $78,000 after buying an additional 3,490 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Evolv Technologies by 30.5% in the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after acquiring an additional 4,127 shares in the last quarter. Worth Financial Advisory Group LLC boosted its holdings in 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. MetLife Investment Management LLC boosted its holdings in Evolv Technologies by 7.1% in the third quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock valued at $312,000 after purchasing an additional 5,090 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after purchasing an additional 5,100 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other 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.