Evolv Technologies (NASDAQ:EVLV) Trading 3.7% Higher – Here’s What Happened

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s stock price traded up 3.7% during mid-day trading on Friday . The stock 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.

Analysts Set New Price Targets

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

Evolv Technologies Stock Up 8.9 %

The company has a market cap of $597.11 million, a PE ratio of -27.07 and a beta of 1.67. The firm has a 50 day simple moving average of $3.40 and a 200-day simple moving average of $3.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVLV. Foundations Investment Advisors LLC purchased a new position in Evolv Technologies in the second quarter worth $30,000. Worth Financial Advisory Group LLC grew 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 last quarter. SG Americas Securities LLC acquired a new position in Evolv Technologies during the 3rd quarter valued at about $44,000. Principal Financial Group Inc. raised its stake in Evolv Technologies by 30.5% in the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock valued at $45,000 after buying an additional 4,127 shares during the last quarter. Finally, First Bank & Trust acquired a new stake in Evolv Technologies in the third quarter worth about $52,000. Hedge funds and other 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.