Evolv Technologies (NASDAQ:EVLV) Stock Price Up 5.8% – Here’s What Happened

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

Analyst Upgrades and Downgrades

EVLV has been the subject of a number of analyst reports. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. TD Cowen lowered shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Finally, Lake Street Capital decreased their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company 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 assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.60.

Evolv Technologies Price Performance

The stock has a market cap of $655.41 million, a price-to-earnings ratio of -29.71 and a beta of 1.66. The company’s fifty day moving average price is $3.65 and its 200-day moving average price is $3.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Evolv Technologies by 8.5% during the third quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock valued at $245,000 after buying an additional 4,756 shares during the last quarter. MetLife Investment Management LLC grew 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 valued at $312,000 after purchasing an additional 5,090 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Evolv Technologies by 50.5% in the third quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after purchasing an additional 5,100 shares during the period. HighTower Advisors LLC raised its stake in shares of Evolv Technologies by 3.1% in the third quarter. HighTower Advisors LLC now owns 202,680 shares of the company’s stock worth $820,000 after purchasing an additional 6,183 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Evolv Technologies by 15.7% in the second 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 during the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

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.