Salem Investment Counselors Inc. Buys 49,600 Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Salem Investment Counselors Inc. increased its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 1,012.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 54,500 shares of the company’s stock after purchasing an additional 49,600 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Evolv Technologies were worth $215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Key Colony Management LLC lifted its stake in Evolv Technologies by 12.1% in the third 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 lifted its stake in Evolv Technologies by 14.4% in the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock worth $11,426,000 after acquiring an additional 355,611 shares during the period. State Street Corp lifted 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 worth $10,785,000 after acquiring an additional 78,775 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Evolv Technologies by 20.8% in 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, GSA Capital Partners LLP lifted its stake in Evolv Technologies by 159.4% in the third 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 during the period. 66.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on EVLV. TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Lake Street Capital lowered their price objective on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Northland Capmk lowered Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.60.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV opened at $3.14 on Wednesday. Evolv Technologies Holdings, Inc. has a 1-year low of $2.01 and a 1-year high of $5.73. The business has a fifty day moving average price of $3.50 and a 200-day moving average price of $3.50. The company has a market capitalization of $494.71 million, a PE ratio of -22.43 and a beta of 1.66.

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.