Key Colony Management LLC Purchases 62,000 Shares of Evolv Technologies Holdings, Inc. $EVLV

Key Points

• Key Colony Management LLC increased its stake in Evolv Technologies by 2.0%, holding approximately 3.1 million shares valued at $19.4 million, now making up 21.9% of its portfolio.
• Evolv Technologies reported a loss of $0.25 EPS in its last earnings call, missing expectations, along with revenue of $26.68 million, lower than the anticipated $30.95 million.
• Analysts have mixed views on Evolv Technologies, with price targets ranging from $7.50 to $10.00, indicating a consensus rating of "Moderate Buy."

Key Colony Management LLC raised its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,105,000 shares of the company's stock after purchasing an additional 62,000 shares during the period. Evolv Technologies accounts for approximately 21.9% of Key Colony Management LLC's holdings, making the stock its 3rd biggest position. Key Colony Management LLC owned 1.89% of Evolv Technologies worth $19,375,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new position in shares of Evolv Technologies during the fourth quarter worth approximately $899,000. Vanguard Group Inc. increased its stake in shares of Evolv Technologies by 5.3% during the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company's stock worth $29,336,000 after purchasing an additional 477,124 shares in the last quarter. Josh Arnold Investment Consultant LLC purchased a new stake in Evolv Technologies during the 1st quarter valued at about $1,248,000. SCS Capital Management LLC purchased a new stake in shares of Evolv Technologies in the 1st quarter valued at approximately $15,061,000. Finally, Northern Trust Corp grew its stake in shares of Evolv Technologies by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,136,210 shares of the company's stock valued at $4,488,000 after buying an additional 67,146 shares during the period. Institutional investors own 66.65% of the company's stock.

Wall Street Analyst Weigh In

EVLV has been the topic of several recent analyst reports. TD Cowen restated a "buy" rating and issued a $10.00 price objective on shares of Evolv Technologies in a report on Friday, August 15th. Cantor Fitzgerald raised their price objective on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Zacks Research lowered shares of Evolv Technologies from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Lake Street Capital upgraded shares of Evolv Technologies from a "hold" rating to a "buy" rating and raised their price objective for the company from $5.50 to $9.00 in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.88.

Insider Buying and Selling at Evolv Technologies

In other news, major shareholder Gates Frontier, Llc sold 776,236 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total value of $6,365,135.20. Following the completion of the transaction, the insider directly owned 17,189,096 shares in the company, valued at approximately $140,950,587.20. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.30% of the company's stock.

Evolv Technologies Price Performance

EVLV traded up $0.18 during midday trading on Thursday, reaching $8.34. 6,462,145 shares of the company's stock were exchanged, compared to its average volume of 2,516,800. The stock has a market capitalization of $1.43 billion, a PE ratio of -15.15 and a beta of 1.71. Evolv Technologies Holdings, Inc. has a 1-year low of $2.04 and a 1-year high of $8.91. The business's 50-day moving average price is $7.35 and its 200 day moving average price is $5.39.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). Evolv Technologies had a negative net margin of 73.04% and a negative return on equity of 76.80%. The company had revenue of $26.68 million during the quarter, compared to analysts' expectations of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. As a group, analysts expect that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current fiscal year.

Evolv Technologies Company Profile

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.