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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) gapped up before the market opened 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.

Analyst Upgrades and Downgrades

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

Evolv Technologies Trading Up 21.8 %

The firm has a market capitalization of $617.75 million, a PE ratio of -27.89 and a beta of 1.66. The stock’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $3.52.

Institutional Trading of Evolv Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Evolv Technologies during the 3rd quarter valued at $44,000. First Bank & Trust acquired a new position in shares of Evolv Technologies during the 3rd quarter valued at $52,000. Sequoia Financial Advisors LLC lifted its holdings in Evolv Technologies by 50.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after buying an additional 5,100 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Evolv Technologies in the 3rd quarter worth about $63,000. Finally, Phillips Financial Management LLC bought a new stake in shares of Evolv Technologies in the 3rd quarter worth about $99,000. 66.65% of the stock is owned by hedge funds and other 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.