Evolv Technologies (NASDAQ:EVLV) Shares Down 5.2% – Here’s What Happened

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) dropped 5.2% during trading on Monday . The company traded as low as $3.77 and last traded at $3.84. Approximately 526,014 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 1,759,225 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. Lake Street Capital lowered their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, TD Cowen cut shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. One equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.60.

Evolv Technologies Stock Down 1.2 %

The firm has a market capitalization of $630.20 million, a price-to-earnings ratio of -28.79 and a beta of 1.34. The business’s fifty day moving average is $3.39 and its 200 day moving average is $3.21.

Institutional Trading of Evolv Technologies

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Evolv Technologies by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after buying an additional 407,396 shares during the last quarter. Key Colony Management LLC raised its holdings in shares of Evolv Technologies by 12.1% in 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 during the last quarter. Geode Capital Management LLC raised its holdings in shares of Evolv Technologies by 14.4% in the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after purchasing an additional 355,611 shares during the last quarter. State Street Corp boosted its holdings in Evolv Technologies by 3.0% during the third quarter. State Street Corp now owns 2,663,078 shares of the company’s stock worth $10,785,000 after purchasing an additional 78,775 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 158,877 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors.

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.