Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Given Average Recommendation of “Hold” by Brokerages

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has received an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $5.60.

EVLV has been the topic of a number of research analyst reports. Lake Street Capital reduced their target price on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research report on Monday, October 28th. Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th.

Evolv Technologies Stock Down 1.3 %

NASDAQ:EVLV opened at $3.07 on Friday. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $5.73. The company has a market capitalization of $483.68 million, a P/E ratio of -21.93 and a beta of 1.66. The stock’s fifty day moving average is $3.53 and its two-hundred day moving average is $3.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Evolv Technologies during the 3rd quarter worth $44,000. First Bank & Trust acquired a new position in Evolv Technologies during the 3rd quarter worth $52,000. Sequoia Financial Advisors LLC grew its stake 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 purchasing an additional 5,100 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Evolv Technologies during the 3rd quarter worth about $63,000. Finally, Principal Financial Group Inc. boosted its position in shares of Evolv Technologies by 30.5% during the 2nd 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 in the last quarter. 66.65% of the stock is 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.