Evolv Technologies (NASDAQ:EVLV) Trading Up 2.5%

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares rose 2.5% on Wednesday . The company traded as high as $4.22 and last traded at $4.16. Approximately 170,369 shares changed hands during trading, a decline of 89% from the average daily volume of 1,546,682 shares. The stock had previously closed at $4.06.

Analysts Set New Price Targets

A number of research firms have commented on EVLV. Lake Street Capital lowered shares of Evolv Technologies from a “buy” rating to a “hold” rating and lowered their target price for the stock from $6.00 to $3.50 in a report on Friday, May 10th. Northland Securities decreased their price objective on Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a research note on Monday, August 12th. Craig Hallum began coverage on Evolv Technologies in a research note on Monday, May 20th. They issued a “buy” rating and a $5.75 target price on the stock. Finally, TD Cowen decreased their target price on Evolv Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Evolv Technologies has an average rating of “Moderate Buy” and a consensus price target of $5.75.

Evolv Technologies Trading Up 0.7 %

The company has a 50 day moving average of $3.12 and a 200 day moving average of $3.48. The firm has a market cap of $632.15 million, a price-to-earnings ratio of -6.59 and a beta of 1.24.

Institutional Investors Weigh In On Evolv Technologies

A number of hedge funds have recently modified their holdings of EVLV. MCF Advisors LLC increased its stake in Evolv Technologies by 84.5% during the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock worth $29,000 after purchasing an additional 3,000 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Evolv Technologies during the first quarter worth $45,000. Worth Venture Partners LLC bought a new stake in shares of Evolv Technologies during the fourth quarter worth $53,000. Foundations Investment Advisors LLC acquired a new stake in shares of Evolv Technologies during the second quarter worth $30,000. Finally, Victory Capital Management Inc. lifted its position in Evolv Technologies by 26.2% in the 4th quarter. Victory Capital Management Inc. now owns 12,682 shares of the company’s stock valued at $60,000 after acquiring an additional 2,629 shares in the last quarter. Institutional investors and hedge funds 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.