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

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) have been given an average recommendation of “Hold” by the six research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.60.

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

Evolv Technologies Stock Performance

Evolv Technologies stock opened at $3.19 on Friday. The company’s 50-day moving average price is $3.55 and its 200-day moving average price is $3.51. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $5.73.

Institutional Investors Weigh In On Evolv Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Evolv Technologies in the 3rd quarter valued at $44,000. Principal Financial Group Inc. grew its holdings in shares of Evolv Technologies by 30.5% in the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after purchasing an additional 4,127 shares during the last quarter. First Bank & Trust bought a new position in shares of Evolv Technologies in the third quarter worth about $52,000. Sequoia Financial Advisors LLC increased its stake in Evolv Technologies by 50.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after buying an additional 5,100 shares during the period. Finally, Virtu Financial LLC bought a new stake in Evolv Technologies during the 3rd quarter valued at about $63,000. 66.65% of the stock is 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.