Evolv Technologies (NASDAQ:EVLV) Shares Gap Up – What’s Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.37, but opened at $4.49. Evolv Technologies shares last traded at $4.49, with a volume of 6,721 shares changing hands.

Analysts Set New Price Targets

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

Evolv Technologies Trading Down 9.3 %

The company has a market cap of $633.35 million, a P/E ratio of -28.71 and a beta of 1.66. The company has a 50 day moving average price of $3.42 and a 200-day moving average price of $3.29.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVLV. Arizona State Retirement System increased its position in shares of Evolv Technologies by 12.9% during the second quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock worth $78,000 after buying an additional 3,490 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Evolv Technologies by 30.5% in the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after purchasing an additional 4,127 shares in the last quarter. Worth Financial Advisory Group LLC grew its holdings in shares of Evolv Technologies by 42.0% during the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after buying an additional 4,435 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Evolv Technologies by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,813 shares of the company’s stock worth $147,000 after acquiring an additional 5,062 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Evolv Technologies by 7.1% in the 3rd quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock valued at $312,000 after acquiring an additional 5,090 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors.

About Evolv Technologies

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.