Evolv Technologies (NASDAQ:EVLV) Shares Up 3.7% – Here’s What Happened

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price was up 3.7% during trading on Friday . The company traded as high as $3.61 and last traded at $3.61. Approximately 229,466 shares traded hands during trading, a decline of 87% from the average daily volume of 1,761,353 shares. The stock had previously closed at $3.48.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen downgraded shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Lake Street Capital cut 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. Northland Securities downgraded shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.60.

Evolv Technologies Stock Up 8.9 %

The company’s 50-day moving average is $3.40 and its 200 day moving average is $3.34. The company has a market cap of $597.11 million, a price-to-earnings ratio of -27.07 and a beta of 1.67.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Resolute Capital Asset Partners LLC acquired a new stake in Evolv Technologies in the second quarter valued at approximately $510,000. Ironwood Investment Management LLC purchased a new position in shares of Evolv Technologies during the 2nd quarter valued at approximately $724,000. GSA Capital Partners LLP increased its holdings in Evolv Technologies by 159.4% in the 3rd quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock worth $3,581,000 after acquiring an additional 543,322 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 acquiring an additional 158,877 shares during the period. Finally, Key Colony Management LLC lifted its holdings in Evolv Technologies by 12.1% during the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after purchasing an additional 545,492 shares in the last quarter. 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.