Evolv Technologies (NASDAQ:EVLV) Sees Strong Trading Volume – Should You Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw unusually-high trading volume on Tuesday . Approximately 2,954,228 shares were traded during mid-day trading, an increase of 69% from the previous session’s volume of 1,747,633 shares.The stock last traded at $3.37 and had previously closed at $3.36.

Wall Street Analyst Weigh In

EVLV has been the topic of a number of recent research reports. Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Lake Street Capital dropped 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. 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 assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Evolv Technologies presently has a consensus rating of “Hold” and an average price target of $5.60.

Evolv Technologies Trading Up 1.2 %

The business’s 50-day simple moving average is $3.43 and its two-hundred day simple moving average is $3.18. The company has a market capitalization of $535.67 million, a PE ratio of -21.14 and a beta of 1.34.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Evolv Technologies by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after acquiring an additional 407,396 shares during the last quarter. Key Colony Management LLC lifted its position in shares of Evolv Technologies by 12.1% during the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after purchasing an additional 545,492 shares during the last quarter. Geode Capital Management LLC grew its stake in Evolv Technologies by 14.4% in the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock worth $11,426,000 after purchasing an additional 355,611 shares in the last quarter. State Street Corp increased its holdings in Evolv Technologies by 3.0% in the third quarter. State Street Corp now owns 2,663,078 shares of the company’s stock valued at $10,785,000 after buying an additional 78,775 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Evolv Technologies by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock valued at $3,743,000 after buying an additional 158,877 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other 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.