Evolv Technologies (NASDAQ:EVLV) Shares Gap Up - Still a Buy?

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $4.16, but opened at $4.50. Evolv Technologies shares last traded at $4.23, with a volume of 644,240 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their price target on shares of Evolv Technologies from $2.75 to $4.00 and gave the company a "hold" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.31.

Evolv Technologies Stock Up 3.3 %

The company has a fifty day moving average price of $3.31 and a two-hundred day moving average price of $3.47. The firm has a market capitalization of $683.77 million, a price-to-earnings ratio of -31.00 and a beta of 1.68.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP grew its holdings in shares of Evolv Technologies by 317.1% during the fourth quarter. Marshall Wace LLP now owns 3,275,025 shares of the company's stock worth $12,936,000 after buying an additional 2,489,825 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Evolv Technologies by 2,428.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company's stock worth $6,036,000 after acquiring an additional 1,467,538 shares during the period. CenterBook Partners LP grew its stake in shares of Evolv Technologies by 15.0% in the 4th quarter. CenterBook Partners LP now owns 3,008,643 shares of the company's stock valued at $11,884,000 after purchasing an additional 393,563 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Evolv Technologies by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company's stock valued at $35,256,000 after purchasing an additional 238,963 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Evolv Technologies during the fourth quarter worth $899,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.