Evolv Technologies (NASDAQ:EVLV) Trading 5.8% Higher - Should You Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) shot up 5.8% during mid-day trading on Friday . The stock traded as high as $4.20 and last traded at $4.18. 690,994 shares were traded during trading, a decline of 60% from the average session volume of 1,738,284 shares. The stock had previously closed at $3.95.

Analyst Ratings Changes

Several brokerages recently issued reports on EVLV. Lake Street Capital reduced their price target on shares of Evolv Technologies from $3.50 to $2.75 and set a "hold" rating on the stock in a research report on Monday, October 28th. TD Cowen downgraded shares of Evolv Technologies from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, October 28th. Northland Capmk downgraded shares of Evolv Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Finally, Northland Securities downgraded shares of Evolv Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $5.60.

Evolv Technologies Stock Performance

The firm has a market capitalization of $655.41 million, a price-to-earnings ratio of -29.71 and a beta of 1.66. The business's 50-day moving average is $3.65 and its two-hundred day moving average is $3.54.

Institutional Trading of Evolv Technologies

A number of hedge funds have recently modified their holdings of EVLV. JPMorgan Chase & Co. increased its stake in Evolv Technologies by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company's stock worth $245,000 after purchasing an additional 4,756 shares in the last quarter. MetLife Investment Management LLC increased its stake in Evolv Technologies by 7.1% during the 3rd quarter. MetLife Investment Management LLC now owns 77,055 shares of the company's stock worth $312,000 after purchasing an additional 5,090 shares in the last quarter. Sequoia Financial Advisors LLC increased 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. HighTower Advisors LLC increased its stake in Evolv Technologies by 3.1% during the 3rd quarter. HighTower Advisors LLC now owns 202,680 shares of the company's stock worth $820,000 after purchasing an additional 6,183 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Evolv Technologies by 15.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,399 shares of the company's stock worth $134,000 after purchasing an additional 7,119 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.