Evolv Technologies (NASDAQ:EVLV) Stock Price Up 5.3% – Time to Buy?

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shot up 5.3% during mid-day trading on Tuesday . The company traded as high as $4.19 and last traded at $4.17. 826,154 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 1,761,092 shares. The stock had previously closed at $3.96.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EVLV. TD Cowen cut shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note 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 on the stock in a research note on Monday, October 28th. Finally, Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. One investment 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, the stock presently has an average rating of “Hold” and a consensus price target of $5.60.

Evolv Technologies Stock Up 4.5 %

The company has a 50-day moving average price of $3.38 and a 200 day moving average price of $3.22. The firm has a market cap of $652.26 million, a price-to-earnings ratio of -29.93 and a beta of 1.66.

Institutional Trading of Evolv Technologies

Several hedge funds and other institutional investors have recently modified their holdings of EVLV. Vanguard Group Inc. increased its position in Evolv Technologies by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock worth $32,013,000 after purchasing an additional 407,396 shares during the last quarter. Key Colony Management LLC increased its holdings in Evolv Technologies by 12.1% in the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after buying an additional 545,492 shares during the last quarter. Geode Capital Management LLC raised its position in Evolv Technologies by 14.4% during the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after acquiring an additional 355,611 shares in the last quarter. State Street Corp lifted its stake in Evolv Technologies by 3.0% in the third quarter. State Street Corp now owns 2,663,078 shares of the company’s stock valued at $10,785,000 after acquiring an additional 78,775 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Evolv Technologies by 20.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock worth $3,743,000 after acquiring an additional 158,877 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.