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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) gapped up prior to trading on Thursday . The stock had previously closed at $3.22, but opened at $3.78. Evolv Technologies shares last traded at $3.68, with a volume of 1,187,515 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on EVLV. TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. Northland Securities downgraded shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Lake Street Capital dropped their price target on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, Northland Capmk downgraded shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.60.

Evolv Technologies Price Performance

The business’s 50 day moving average is $3.59 and its 200 day moving average is $3.52. The stock has a market cap of $617.75 million, a price-to-earnings ratio of -27.89 and a beta of 1.66.

Hedge Funds Weigh In On Evolv Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its position in Evolv Technologies by 352.3% in the third quarter. Barclays PLC now owns 211,551 shares of the company’s stock valued at $856,000 after acquiring an additional 164,775 shares during the last quarter. Ironwood Investment Management LLC purchased a new stake in shares of Evolv Technologies in the second quarter valued at about $724,000. Geode Capital Management LLC raised its holdings in shares of Evolv Technologies by 14.4% in the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after buying an additional 355,611 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Evolv Technologies by 159.4% in the third quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock valued at $3,581,000 after buying an additional 543,322 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Evolv Technologies by 20.8% in 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 during the last quarter. Institutional investors and hedge funds 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.