Evolv Technologies (NASDAQ:EVLV) Sees Large Volume Increase – Here’s What Happened

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw unusually-strong trading volume on Tuesday . Approximately 2,954,228 shares traded hands during trading, an increase of 69% from the previous session’s volume of 1,747,633 shares.The stock last traded at $3.37 and had previously closed at $3.36.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Northland Capmk cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Northland Securities downgraded shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, Lake Street Capital dropped their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Evolv Technologies currently has a consensus rating of “Hold” and an average price target of $5.60.

Evolv Technologies Trading Up 13.8 %

The firm has a market capitalization of $616.81 million, a P/E ratio of -27.96 and a beta of 1.34. The stock has a 50 day simple moving average of $3.41 and a 200-day simple moving average of $3.19.

Institutional Trading of Evolv Technologies

Several large investors have recently added to or reduced their stakes in EVLV. Virtu Financial LLC purchased a new position in shares of Evolv Technologies during the 3rd quarter worth $63,000. Barclays PLC raised its holdings in Evolv Technologies by 352.3% in the 3rd quarter. Barclays PLC now owns 211,551 shares of the company’s stock worth $856,000 after purchasing an additional 164,775 shares during the period. Geode Capital Management LLC lifted its position in Evolv Technologies by 14.4% during the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after purchasing an additional 355,611 shares in the last quarter. Wexford Capital LP bought a new stake in Evolv Technologies during the third quarter valued at about $810,000. Finally, State Street Corp increased its position in Evolv Technologies by 3.0% in the third quarter. State Street Corp now owns 2,663,078 shares of the company’s stock worth $10,785,000 after buying an additional 78,775 shares in the last quarter. 66.65% of the stock is currently owned by 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.