Empowered Funds LLC Acquires Shares of 173,222 Evolv Technologies Holdings, Inc. $EVLV

Key Points

• Empowered Funds LLC acquired 173,222 Evolv Technologies shares worth approximately $1.05 million, representing about 0.10% of the company. Institutional ownership stands at 66.65%, with several other funds also increasing or initiating positions.
• Evolv reported quarterly revenue of $46.33 million and an adjusted loss of $0.03 per share, beating analyst expectations of $44.23 million in revenue and a $0.06 loss. Analysts expect a full-year loss of $0.18 per share.
• EVLV shares opened at $6.13, versus a 52-week range of $4.86 to $8.91. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $9.67.

Empowered Funds LLC bought a new stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 173,222 shares of the company's stock, valued at approximately $1,048,000. Empowered Funds LLC owned approximately 0.10% of Evolv Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Evelyn Partners Investment Management LLP bought a new stake in Evolv Technologies in the 1st quarter worth about $115,000. Quantinno Capital Management LP boosted its holdings in shares of Evolv Technologies by 196.1% during the 1st quarter. Quantinno Capital Management LP now owns 142,572 shares of the company's stock valued at $863,000 after acquiring an additional 94,428 shares during the last quarter. Sei Investments Co. grew its stake in shares of Evolv Technologies by 289.8% in the first quarter. Sei Investments Co. now owns 239,710 shares of the company's stock worth $1,450,000 after acquiring an additional 178,215 shares during the period. Cetera Investment Advisers grew its stake in shares of Evolv Technologies by 17.0% in the first quarter. Cetera Investment Advisers now owns 98,491 shares of the company's stock worth $596,000 after acquiring an additional 14,310 shares during the period. Finally, Militia Capital Management LLC purchased a new position in shares of Evolv Technologies during the first quarter valued at approximately $2,658,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Price Performance

Shares of Evolv Technologies stock opened at $6.13 on Friday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -26.65 and a beta of 1.80. The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.24. The stock's 50-day simple moving average is $5.86 and its 200-day simple moving average is $5.93. Evolv Technologies Holdings, Inc. has a 52 week low of $4.86 and a 52 week high of $8.91.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $46.33 million during the quarter, compared to analysts' expectations of $44.23 million. As a group, analysts expect that Evolv Technologies Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EVLV has been the topic of several recent research reports. TD Cowen reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Evolv Technologies in a research note on Tuesday, June 9th. Weiss Ratings upgraded Evolv Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 2nd. Finally, Zacks Research lowered shares of Evolv Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Evolv Technologies presently has a consensus rating of "Hold" and a consensus price target 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.

Want to see what other hedge funds are holding EVLV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source