Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Receives $5.60 Average Price Target from Analysts

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $5.60.

Several research analysts have recently commented on EVLV shares. Lake Street Capital dropped 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 note on Monday, October 28th. Northland Securities downgraded shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors have recently made changes to their positions in the business. Foundations Investment Advisors LLC acquired a new stake in Evolv Technologies in the 2nd quarter valued at approximately $30,000. Worth Financial Advisory Group LLC grew its stake in shares of Evolv Technologies by 42.0% in the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock worth $38,000 after acquiring an additional 4,435 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Evolv Technologies in the third quarter worth $44,000. Principal Financial Group Inc. increased its position in Evolv Technologies by 30.5% during 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 during the period. Finally, First Bank & Trust acquired a new position in Evolv Technologies during the 3rd quarter valued at $52,000. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Stock Performance

NASDAQ:EVLV opened at $3.79 on Wednesday. The company has a market capitalization of $597.11 million, a P/E ratio of -27.07 and a beta of 1.67. The stock’s 50 day moving average price is $3.41 and its 200 day moving average price is $3.33. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $5.73.

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.