Evolv Technologies Holdings, Inc. (EVLV) shares are surging 5.96% in pre-market trading on Wednesday, following a significant upgrade from Northland Capital Markets. The stock's upward movement comes as investors react positively to the new analyst rating and price target.
Northland Capital Markets has upgraded Evolv Technologies from Market Perform to Outperform, signaling increased confidence in the company's prospects. Along with the upgrade, the firm has set a new price target of $7.50 for EVLV shares, suggesting potential upside from the stock's previous closing price.
This upgrade could attract more investor attention to Evolv Technologies, a company known for its AI-based weapons detection security screening systems. The positive analyst sentiment may reflect growing optimism about the company's market position, financial performance, or growth prospects in the security technology sector. Investors will likely be watching closely to see if this pre-market momentum carries through to regular trading hours and beyond.
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