Evolv Technologies (NASDAQ:EVLV) Stock Price Up 5.3% – Here’s What Happened

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was up 5.3% on Tuesday . The stock traded as high as $4.19 and last traded at $4.17. Approximately 826,154 shares were traded during trading, a decline of 53% from the average daily volume of 1,761,092 shares. The stock had previously closed at $3.96.

Analyst Upgrades and Downgrades

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

Evolv Technologies Stock Up 4.5 %

The stock’s 50-day moving average is $3.38 and its 200-day moving average is $3.22. The firm has a market cap of $652.26 million, a P/E ratio of -29.93 and a beta of 1.66.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Evolv Technologies by 6.0% during the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock worth $32,013,000 after buying an additional 407,396 shares in the last quarter. Key Colony Management LLC lifted its holdings in shares of Evolv Technologies by 12.1% during the 3rd quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after acquiring an additional 545,492 shares during the period. Geode Capital Management LLC boosted its position in shares of Evolv Technologies by 14.4% during the 3rd 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 increased 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 period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Evolv Technologies by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock worth $3,743,000 after purchasing an additional 158,877 shares during the period. 66.65% of the stock is currently owned by institutional investors and hedge funds.

About Evolv Technologies

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.