Evolv Technologies (NASDAQ:EVLV) Shares Down 3.8% – Should You Sell?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price was down 3.8% during mid-day trading on Monday . The stock traded as low as $3.74 and last traded at $3.82. Approximately 258,821 shares changed hands during trading, a decline of 73% from the average daily volume of 947,596 shares. The stock had previously closed at $3.97.

Wall Street Analysts Forecast Growth

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

Evolv Technologies Stock Down 7.4 %

The firm has a market capitalization of $512.04 million, a PE ratio of -23.21 and a beta of 1.66. The business’s fifty day moving average price is $3.43 and its 200 day moving average price is $3.48.

Institutional Investors Weigh In On Evolv Technologies

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Evolv Technologies by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock worth $245,000 after purchasing an additional 4,756 shares during the period. Virtu Financial LLC acquired a new position in shares of Evolv Technologies in the third quarter worth about $63,000. Barclays PLC boosted its stake in shares of Evolv Technologies by 352.3% during the 3rd quarter. Barclays PLC now owns 211,551 shares of the company’s stock valued at $856,000 after buying an additional 164,775 shares during the last quarter. Geode Capital Management LLC grew its holdings in Evolv Technologies by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock worth $11,426,000 after acquiring an additional 355,611 shares in the last quarter. Finally, Wexford Capital LP bought a new position in Evolv Technologies during the 3rd quarter worth approximately $810,000. Institutional investors and hedge funds 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.