Evolv Technologies (NASDAQ:EVLV) Shares Gap Up to $4.07

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)’s share price gapped up before the market opened on Monday . The stock had previously closed at $4.07, but opened at $4.26. Evolv Technologies shares last traded at $4.15, with a volume of 344,714 shares.

Analysts Set New Price Targets

EVLV has been the subject of a number of recent research reports. Northland Securities lowered their price target on shares of Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a report on Monday, August 12th. Lake Street Capital downgraded shares of Evolv Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $6.00 to $3.50 in a research note on Friday, May 10th. TD Cowen cut their price objective on Evolv Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Craig Hallum assumed coverage on Evolv Technologies in a research note on Monday, May 20th. They issued a “buy” rating and a $5.75 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.75.

Evolv Technologies Stock Up 1.5 %

The business has a 50 day simple moving average of $2.97 and a 200-day simple moving average of $3.49. The company has a market capitalization of $644.64 million, a P/E ratio of -6.67 and a beta of 1.24.

Institutional Investors Weigh In On Evolv Technologies

Several large investors have recently made changes to their positions in EVLV. Ironwood Investment Management LLC acquired a new stake in Evolv Technologies in the 2nd quarter valued at approximately $724,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Evolv Technologies by 15.7% in the second quarter. The Manufacturers Life Insurance Company now owns 52,399 shares of the company’s stock valued at $134,000 after purchasing an additional 7,119 shares in the last quarter. Marathon Capital Management boosted its position in shares of Evolv Technologies by 6.5% in the second quarter. Marathon Capital Management now owns 527,450 shares of the company’s stock worth $1,345,000 after buying an additional 32,000 shares during the period. Resolute Capital Asset Partners LLC purchased a new stake in Evolv Technologies in the 2nd quarter worth about $510,000. Finally, Arizona State Retirement System boosted its position in Evolv Technologies by 12.9% during the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock worth $78,000 after acquiring an additional 3,490 shares during the period. 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.