Evolv Technologies (NASDAQ:EVLV) Shares Gap Up – What’s Next?

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) gapped up before the market opened on Wednesday . The stock had previously closed at $3.77, but opened at $3.90. Evolv Technologies shares last traded at $4.00, with a volume of 287,735 shares trading hands.

Wall Street Analysts Forecast Growth

EVLV has been the topic of several recent research reports. Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Northland Capmk cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Lake Street Capital reduced 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. Finally, TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Evolv Technologies has an average rating of “Hold” and an average price target of $5.60.

Evolv Technologies Stock Up 1.9 %

The company has a 50 day simple moving average of $3.42 and a 200-day simple moving average of $3.33.

Institutional Investors Weigh In On Evolv Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Evolv Technologies in the 3rd quarter valued at $44,000. Foundations Investment Advisors LLC bought a new stake in shares of Evolv Technologies during the second quarter worth approximately $30,000. First Bank & Trust bought a new position in Evolv Technologies during the 3rd quarter worth $52,000. Worth Financial Advisory Group LLC boosted its stake in shares of Evolv Technologies by 42.0% in the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after buying an additional 4,435 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after purchasing an additional 5,100 shares in the last quarter. Institutional investors own 66.65% of the company’s stock.

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.