Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Receives Consensus Recommendation of “Hold” from Brokerages

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

A number of brokerages have commented on EVLV. Northland Capmk downgraded shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Lake Street Capital reduced their target price on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research note on Monday, October 28th. Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. Finally, TD Cowen cut Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th.

Institutional Investors Weigh In On Evolv Technologies

Several hedge funds have recently bought and sold shares of the stock. Resolute Capital Asset Partners LLC acquired a new position in shares of Evolv Technologies in the 2nd quarter valued at $510,000. Ironwood Investment Management LLC acquired a new stake in Evolv Technologies in the 2nd quarter valued at $724,000. GSA Capital Partners LLP increased its holdings in Evolv Technologies by 159.4% in the 3rd quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock worth $3,581,000 after acquiring an additional 543,322 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Evolv Technologies by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock worth $3,743,000 after acquiring an additional 158,877 shares during the period. Finally, Key Colony Management LLC lifted its holdings in Evolv Technologies by 12.1% during the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after purchasing an additional 545,492 shares in the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Up 8.9 %

Shares of NASDAQ:EVLV opened at $3.79 on Wednesday. The company has a market capitalization of $597.11 million, a price-to-earnings ratio of -27.07 and a beta of 1.67. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $5.73. The firm has a 50 day moving average of $3.40 and a 200 day moving average of $3.34.

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.