Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Receives Consensus Recommendation of “Hold” from Analysts

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has earned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.60.

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

Evolv Technologies Price Performance

NASDAQ EVLV opened at $3.79 on Wednesday. The stock’s 50 day simple moving average is $3.40 and its 200-day simple moving average is $3.34. The company has a market cap of $597.11 million, a PE ratio of -27.07 and a beta of 1.67. Evolv Technologies has a 1-year low of $2.01 and a 1-year high of $5.73.

Institutional Investors Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Foundations Investment Advisors LLC purchased a new stake in Evolv Technologies during the second quarter worth about $30,000. Worth Financial Advisory Group LLC boosted its stake in shares of Evolv Technologies by 42.0% in the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after purchasing an additional 4,435 shares during the period. SG Americas Securities LLC purchased a new stake in Evolv Technologies during the 3rd quarter worth approximately $44,000. Principal Financial Group Inc. increased its stake in 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 buying an additional 4,127 shares during the period. Finally, First Bank & Trust acquired a new stake in Evolv Technologies during the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 66.65% of the company’s stock.

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.