Bank of New York Mellon Corp Takes $2.57 Million Position in Evolv Technologies Holdings, Inc. $EVLV

Key Points

• Bank of New York Mellon acquired 443,302 shares of Evolv Technologies worth approximately $2.57 million, while institutional investors collectively own 66.65% of the company.
• Analyst sentiment is mixed: three analysts rate EVLV a Buy, one rates it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $10.42.
• Evolv reported quarterly revenue of $43.75 million, exceeding estimates, but its adjusted loss of $0.05 per share missed expectations. Shares opened at $5.00, near the lower end of their 12-month range.

Bank of New York Mellon Corp purchased a new position in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 443,302 shares of the company's stock, valued at approximately $2,571,000. Bank of New York Mellon Corp owned 0.25% of Evolv Technologies as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. CW Advisors LLC lifted its position in shares of Evolv Technologies by 19.0% during 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. Arizona State Retirement System lifted its position in shares of Evolv Technologies by 6.5% in the 4th quarter. Arizona State Retirement System now owns 33,648 shares of the company's stock worth $241,000 after purchasing an additional 2,067 shares during the period. Victory Capital Management Inc. boosted its position in Evolv Technologies by 16.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,601 shares of the company's stock valued at $118,000 after acquiring an additional 2,206 shares in the last quarter. FNY Investment Advisers LLC boosted its position in Evolv Technologies by 33.3% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock valued at $58,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of Evolv Technologies by 13.2% in the 4th quarter. Advisory Services Network LLC now owns 22,694 shares of the company's stock valued at $162,000 after buying an additional 2,651 shares in the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EVLV shares. Weiss Ratings raised Evolv Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 2nd. Craig Hallum reiterated a "buy" rating and issued a $11.25 price objective on shares of Evolv Technologies in a research note on Wednesday, August 12th. Wall Street Zen raised Evolv Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 30th. TD Cowen reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Evolv Technologies in a report on Tuesday, June 9th. Finally, Zacks Research cut Evolv Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Evolv Technologies currently has an average rating of "Hold" and a consensus price target of $10.42.

Evolv Technologies Price Performance

Shares of EVLV stock opened at $5.00 on Tuesday. Evolv Technologies Holdings, Inc. has a 12 month low of $4.86 and a 12 month high of $8.81. The company has a market capitalization of $905.65 million, a PE ratio of -166.67 and a beta of 1.80. The firm's 50-day moving average is $5.64 and its two-hundred day moving average is $5.85. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 1.11.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The business had revenue of $43.75 million during the quarter, compared to analysts' expectations of $41.80 million. Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%. Analysts predict that Evolv Technologies Holdings, Inc. will post -0.2 earnings per share for the current year.

Evolv Technologies Company Profile

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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