Arrowstreet Capital Limited Partnership Sells 439,611 Shares of Evolv Technologies Holdings, Inc. $EVLV

Key Points

• Arrowstreet Capital reduced its Evolv Technologies stake by 35.8% in the first quarter, selling 439,611 shares and retaining 786,896 shares valued at approximately $4.76 million.
• Institutional investors own 66.65% of Evolv Technologies, with JPMorgan more than doubling its position and several other firms initiating or increasing holdings.
• Evolv exceeded first-quarter earnings and revenue estimates, but remains unprofitable; analysts’ average rating is Hold with an average price target of $9.67 versus the stock’s $5.68 opening price.

Arrowstreet Capital Limited Partnership trimmed its position in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 35.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 786,896 shares of the company's stock after selling 439,611 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.44% of Evolv Technologies worth $4,761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Evolv Technologies by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,928 shares of the company's stock valued at $249,000 after buying an additional 5,050 shares during the last quarter. Creative Planning bought a new position in Evolv Technologies in the 2nd quarter valued at approximately $189,000. JPMorgan Chase & Co. boosted its stake in Evolv Technologies by 192.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 221,915 shares of the company's stock valued at $1,385,000 after purchasing an additional 146,067 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Evolv Technologies in the 2nd quarter worth $94,000. Finally, CW Advisors LLC raised its stake in shares of Evolv Technologies by 19.0% in the second quarter. CW Advisors LLC now owns 12,614 shares of the company's stock worth $79,000 after purchasing an additional 2,014 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Price Performance

Shares of Evolv Technologies stock opened at $5.68 on Tuesday. Evolv Technologies Holdings, Inc. has a one year low of $4.86 and a one year high of $8.91. The stock's fifty day moving average is $5.89 and its 200 day moving average is $5.94. The stock has a market cap of $1.02 billion, a P/E ratio of -24.69 and a beta of 1.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.14 and a current ratio of 1.21.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.03. Evolv Technologies had a negative return on equity of 33.53% and a negative net margin of 22.75%.The business had revenue of $46.33 million during the quarter, compared to analyst estimates of $44.23 million. Sell-side analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EVLV shares. Zacks Research cut Evolv Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Weiss Ratings raised Evolv Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 2nd. Finally, TD Cowen restated a "buy" rating and set a $10.00 target price on shares of Evolv Technologies in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.67.

About Evolv Technologies

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.

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