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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s stock 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.

Wall Street Analyst Weigh In

EVLV has been the subject of a number of recent analyst reports. TD Cowen downgraded shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Lake Street Capital lowered their price target 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. 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 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. According to data from MarketBeat, Evolv Technologies has a consensus rating of “Hold” and an average target price of $5.60.

Evolv Technologies Trading Down 0.2 %

The stock has a market capitalization of $686.92 million, a PE ratio of -31.21 and a beta of 1.66. The business has a fifty day moving average price of $3.41 and a 200-day moving average price of $3.28.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Evolv Technologies during the third quarter valued at approximately $44,000. Foundations Investment Advisors LLC purchased a new position in shares of Evolv Technologies in the second quarter valued at about $30,000. First Bank & Trust bought a new position in shares of Evolv Technologies during the third quarter valued at about $52,000. Worth Financial Advisory Group LLC boosted 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 worth $38,000 after purchasing an additional 4,435 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after purchasing an additional 5,100 shares during the period. Hedge funds and other institutional investors 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.