Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Given Consensus Recommendation of “Hold” by Analysts

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has earned a consensus rating of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $5.60.

EVLV has been the topic of a number of analyst reports. Lake Street Capital cut their price objective 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. 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. Northland Capmk cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th.

Evolv Technologies Stock Down 3.1 %

EVLV stock opened at $3.77 on Wednesday. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $5.73. The stock has a market capitalization of $593.96 million, a price-to-earnings ratio of -26.93 and a beta of 1.67. The firm’s fifty day simple moving average is $3.42 and its two-hundred day simple moving average is $3.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its stake in Evolv Technologies by 12.9% in the 2nd 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. increased its position in Evolv Technologies by 30.5% during the 2nd 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 during the period. Worth Financial Advisory Group LLC increased its position in Evolv Technologies by 42.0% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after purchasing an additional 4,435 shares during the period. MetLife Investment Management LLC increased its position in Evolv Technologies by 7.1% during the 3rd quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock valued at $312,000 after purchasing an additional 5,090 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position 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.

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.