Evolv Technologies (NASDAQ:EVLV) Trading 5.8% Higher – What’s Next?

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

Analyst Upgrades and Downgrades

EVLV has been the subject of several recent analyst reports. Northland Securities downgraded shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Northland Capmk cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Lake Street Capital dropped their price objective on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a 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 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.60.

Evolv Technologies Stock Performance

The firm has a market cap of $646.43 million, a P/E ratio of -29.68 and a beta of 1.66. The stock’s 50 day simple moving average is $3.62 and its 200 day simple moving average is $3.53.

Institutional Trading of Evolv Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marathon Capital Management lifted its position in shares of Evolv Technologies by 6.5% during the second quarter. Marathon Capital Management now owns 527,450 shares of the company’s stock valued at $1,345,000 after purchasing an additional 32,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Evolv Technologies by 15.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,399 shares of the company’s stock worth $134,000 after buying an additional 7,119 shares in the last quarter. Ironwood Investment Management LLC purchased a new position in shares of Evolv Technologies in the 2nd quarter worth approximately $724,000. SG Americas Securities LLC bought a new position in shares of Evolv Technologies in the third quarter valued at approximately $44,000. Finally, Key Colony Management LLC increased 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 valued at $20,499,000 after acquiring an additional 545,492 shares during the last quarter. 66.65% of the stock is 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.