Evolv Technologies (NASDAQ:EVLV) Trading 7.7% Higher – What’s Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) traded up 7.7% during trading on Tuesday . The stock traded as high as $4.28 and last traded at $4.28. 771,387 shares were traded during mid-day trading, a decline of 56% from the average session volume of 1,772,112 shares. The stock had previously closed at $3.97.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Lake Street Capital cut their price objective on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a report on Monday, October 28th. Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. Finally, Northland Capmk downgraded 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 assigned a buy rating to the stock. Based on data from MarketBeat, Evolv Technologies currently has an average rating of “Hold” and a consensus price target of $5.60.

Evolv Technologies Trading Up 6.5 %

The business has a 50 day moving average of $3.78 and a two-hundred day moving average of $3.59. The firm has a market cap of $666.44 million, a P/E ratio of -30.21 and a beta of 1.66.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Autumn Glory Partners LLC bought a new position in Evolv Technologies during the 4th quarter worth $40,000. SG Americas Securities LLC bought a new position in Evolv Technologies during the 3rd quarter worth $44,000. First Bank & Trust bought a new position in Evolv Technologies during the 3rd quarter worth $52,000. Sequoia Financial Advisors LLC increased its position in Evolv Technologies by 50.5% during the 3rd 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 period. Finally, Virtu Financial LLC bought a new position in Evolv Technologies during the 3rd quarter worth $63,000. Institutional investors own 66.65% of the company’s stock.

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.