Evolv Technologies (NASDAQ:EVLV) Shares Down 5.9% – Should You Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) fell 5.9% on Wednesday . The stock traded as low as $4.13 and last traded at $4.17. 464,077 shares were traded during trading, a decline of 74% from the average session volume of 1,771,373 shares. The stock had previously closed at $4.43.

Analyst Ratings Changes

Several research firms have commented on EVLV. Lake Street Capital cut 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. Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Northland Capmk lowered Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.60.

Evolv Technologies Trading Down 9.3 %

The firm has a 50 day simple moving average of $3.42 and a two-hundred day simple moving average of $3.29. The company has a market capitalization of $633.35 million, a PE ratio of -29.00 and a beta of 1.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System grew its stake in shares of Evolv Technologies by 12.9% in the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock valued at $78,000 after purchasing an additional 3,490 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Evolv Technologies by 30.5% in 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 last quarter. Worth Financial Advisory Group LLC grew its stake in shares of Evolv Technologies by 42.0% in 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 last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Evolv Technologies by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,813 shares of the company’s stock valued at $147,000 after buying an additional 5,062 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Evolv Technologies by 7.1% in the third quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock valued at $312,000 after buying an additional 5,090 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other 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.