Evolv Technologies (NASDAQ:EVLV) Shares Gap Up – Time to Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $3.77, but opened at $3.90. Evolv Technologies shares last traded at $4.00, with a volume of 287,735 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research 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 for the company in a research report on Monday, October 28th. Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, TD Cowen cut shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.60.

Evolv Technologies Stock Up 1.9 %

The company has a fifty day moving average of $3.42 and a two-hundred day moving average of $3.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EVLV. Arizona State Retirement System lifted its position in Evolv Technologies by 12.9% in the second quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock worth $78,000 after purchasing an additional 3,490 shares during the period. Principal Financial Group Inc. boosted its holdings in Evolv Technologies by 30.5% during the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock valued at $45,000 after purchasing an additional 4,127 shares in the last quarter. Worth Financial Advisory Group LLC grew its stake in shares of Evolv Technologies by 42.0% in the 2nd 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. MetLife Investment Management LLC raised its holdings in shares of Evolv Technologies by 7.1% in the 3rd quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock worth $312,000 after buying an additional 5,090 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of 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 buying an additional 5,100 shares during the period. 66.65% of the stock is owned by institutional investors.

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.