Evolv Technologies (NASDAQ:EVLV) Trading 5.3% Higher – Should You Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares traded up 5.3% during mid-day trading on Tuesday . The company traded as high as $4.19 and last traded at $4.17. 826,154 shares changed hands during trading, a decline of 53% from the average session volume of 1,761,092 shares. The stock had previously closed at $3.96.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Lake Street Capital lowered their price objective on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research report on Monday, October 28th. Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, TD Cowen cut Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. One research 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 currently has an average rating of “Hold” and an average target price of $5.60.

Evolv Technologies Price Performance

The business has a 50-day simple moving average of $3.39 and a two-hundred day simple moving average of $3.23.

Institutional Trading of Evolv Technologies

A number of large investors have recently bought and sold shares of EVLV. Resolute Capital Asset Partners LLC bought a new stake in shares of Evolv Technologies during the second quarter worth $510,000. Ironwood Investment Management LLC bought a new stake in shares of Evolv Technologies during the second quarter worth $724,000. GSA Capital Partners LLP grew its holdings in shares of Evolv Technologies by 159.4% during the third quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock worth $3,581,000 after purchasing an additional 543,322 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Evolv Technologies by 6.0% during the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock worth $32,013,000 after purchasing an additional 407,396 shares during the last quarter. Finally, Key Colony Management LLC grew its holdings 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. 66.65% of the stock is currently owned by 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.