Evolv Technologies (NASDAQ:EVLV) Shares Up 6.7%

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares shot up 6.7% on Thursday . The company traded as high as $3.81 and last traded at $3.67. 2,115,606 shares were traded during trading, an increase of 37% from the average session volume of 1,540,472 shares. The stock had previously closed at $3.44.

Analyst Upgrades and Downgrades

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

Evolv Technologies Stock Up 12.7 %

The stock has a market capitalization of $635.27 million, a price-to-earnings ratio of -6.67 and a beta of 1.24. The business’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $3.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Evolv Technologies by 26.2% during the fourth quarter. Victory Capital Management Inc. now owns 12,682 shares of the company’s stock worth $60,000 after purchasing an additional 2,629 shares during the period. 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 valued at $29,000 after purchasing an additional 3,000 shares in the last quarter. Arizona State Retirement System raised its holdings in Evolv Technologies by 12.9% during the second quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock worth $78,000 after buying an additional 3,490 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Evolv Technologies by 30.5% in the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock valued at $45,000 after buying an additional 4,127 shares in the last quarter. Finally, Worth Financial Advisory Group LLC grew its holdings in shares of Evolv Technologies by 42.0% during the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after buying an additional 4,435 shares during the last quarter. 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.