Brokerages Set Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) PT at $5.60

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.60.

EVLV has been the subject of several analyst reports. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. TD Cowen cut Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. Lake Street Capital decreased 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. Finally, Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th.

Evolv Technologies Stock Performance

NASDAQ:EVLV opened at $3.07 on Friday. The stock has a 50-day simple moving average of $3.53 and a 200-day simple moving average of $3.50. The stock has a market cap of $483.68 million, a P/E ratio of -21.93 and a beta of 1.66. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73.

Institutional Trading of Evolv Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Evolv Technologies during the 3rd quarter valued at approximately $44,000. First Bank & Trust purchased a new stake in Evolv Technologies during the 3rd quarter valued at approximately $52,000. Sequoia Financial Advisors LLC raised its stake 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 acquiring an additional 5,100 shares during the last quarter. Virtu Financial LLC purchased a new stake in Evolv Technologies during the 3rd quarter valued at approximately $63,000. Finally, Principal Financial Group Inc. raised its stake in shares of Evolv Technologies by 30.5% during the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after buying an additional 4,127 shares in the last quarter. 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.