Evolv Technologies (NASDAQ:EVLV) Trading Down 3.8% – What’s Next?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares fell 3.8% during trading on Monday . The stock traded as low as $3.74 and last traded at $3.82. 258,821 shares were traded during trading, a decline of 73% from the average session volume of 947,596 shares. The stock had previously closed at $3.97.

Wall Street Analysts Forecast Growth

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

Evolv Technologies Stock Down 7.4 %

The stock has a market cap of $512.04 million, a price-to-earnings ratio of -23.21 and a beta of 1.66. The company’s fifty day moving average is $3.43 and its two-hundred day moving average is $3.48.

Hedge Funds Weigh In On Evolv Technologies

A number of institutional investors and hedge funds have recently modified their holdings of EVLV. Arizona State Retirement System raised its stake in Evolv Technologies by 12.9% in the second quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock valued at $78,000 after buying an additional 3,490 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Evolv Technologies by 30.5% in the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock valued at $45,000 after purchasing an additional 4,127 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Evolv Technologies by 8.5% in the third quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock valued at $245,000 after purchasing an additional 4,756 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Evolv Technologies by 7.1% during the third quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock worth $312,000 after purchasing an additional 5,090 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Evolv Technologies by 50.5% during 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 during the last quarter. Institutional investors and hedge funds 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.