Geode Capital Management LLC Raises Stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Geode Capital Management LLC raised its stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,820,747 shares of the company's stock after purchasing an additional 355,611 shares during the period. Geode Capital Management LLC owned 1.79% of Evolv Technologies worth $11,426,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EVLV. Foundations Investment Advisors LLC acquired a new stake in Evolv Technologies in the 2nd quarter valued at $30,000. SG Americas Securities LLC acquired a new position in shares of Evolv Technologies during the third quarter valued at about $44,000. Principal Financial Group Inc. increased its position in shares of Evolv Technologies by 30.5% during the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company's stock worth $45,000 after acquiring an additional 4,127 shares in the last quarter. First Bank & Trust acquired a new stake in shares of Evolv Technologies in the 3rd quarter worth about $52,000. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Evolv Technologies by 50.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company's stock worth $62,000 after acquiring an additional 5,100 shares during the last quarter. Institutional investors and hedge funds own 66.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EVLV. Northland Securities lowered Evolv Technologies from an "outperform" rating to a "market perform" rating in a report on Monday, October 28th. Lake Street Capital dropped their price target on Evolv Technologies from $3.50 to $2.75 and set a "hold" rating on the stock in a report on Monday, October 28th. Northland Capmk cut shares of Evolv Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, TD Cowen cut shares of Evolv Technologies from a "strong-buy" rating to a "strong sell" rating in a report on Monday, October 28th. One equities research 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 MarketBeat, Evolv Technologies currently has a consensus rating of "Hold" and an average price target of $5.60.

Evolv Technologies Price Performance

NASDAQ:EVLV traded down $0.01 on Wednesday, reaching $3.95. 1,230,405 shares of the company's stock were exchanged, compared to its average volume of 1,753,148. The stock has a fifty day simple moving average of $3.36 and a 200-day simple moving average of $3.42. Evolv Technologies Holdings, Inc. has a 52 week low of $2.01 and a 52 week high of $5.73. The firm has a market cap of $622.32 million, a price-to-earnings ratio of -28.21 and a beta of 1.67.

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.