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

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on EVLV shares. Northland Securities downgraded shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. TD Cowen downgraded shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Lake Street Capital lowered their price objective 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, Northland Capmk cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a 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 assigned a buy rating to the company. According to MarketBeat, Evolv Technologies has a consensus rating of “Hold” and a consensus price target of $5.60.

Evolv Technologies Price Performance

The business’s fifty day simple moving average is $3.38 and its two-hundred day simple moving average is $3.46. The company has a market cap of $593.96 million, a PE ratio of -26.93 and a beta of 1.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVLV. Resolute Capital Asset Partners LLC purchased a new stake in shares of Evolv Technologies during the second quarter worth about $510,000. Barclays PLC increased its stake in shares of Evolv Technologies by 352.3% during the third quarter. Barclays PLC now owns 211,551 shares of the company’s stock worth $856,000 after purchasing an additional 164,775 shares in the last quarter. Ironwood Investment Management LLC purchased a new stake in shares of Evolv Technologies during the second quarter worth about $724,000. GSA Capital Partners LLP increased its stake in shares of Evolv Technologies by 159.4% during the third quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock worth $3,581,000 after purchasing an additional 543,322 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Evolv Technologies by 14.4% during the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock worth $11,426,000 after purchasing an additional 355,611 shares in the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

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.