Evolv Technologies Holdings, Inc. $EVLV Shares Purchased by Key Colony Management LLC

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 lifted its holdings in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 2.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,105,000 shares of the company's stock after purchasing an additional 62,000 shares during the quarter. Evolv Technologies comprises about 21.9% of Key Colony Management LLC's portfolio, making the stock its 3rd biggest position. Key Colony Management LLC owned approximately 1.89% of Evolv Technologies worth $19,375,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EVLV. CW Advisors LLC purchased a new position in shares of Evolv Technologies during the 1st quarter valued at about $33,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Evolv Technologies in the 4th quarter valued at about $40,000. Teacher Retirement System of Texas purchased a new position in shares of Evolv Technologies in the 1st quarter valued at about $50,000. PDT Partners LLC purchased a new position in shares of Evolv Technologies in the 1st quarter valued at about $57,000. Finally, SouthState Corp boosted its holdings in Evolv Technologies by 420.1% in the 1st quarter. SouthState Corp now owns 18,571 shares of the company's stock worth $58,000 after buying an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company's stock.

Evolv Technologies Price Performance

NASDAQ:EVLV opened at $8.76 on Friday. The firm has a market capitalization of $1.51 billion, a PE ratio of -15.93 and a beta of 1.71. The business's fifty day moving average price is $7.20 and its 200 day moving average price is $5.29. Evolv Technologies Holdings, Inc. has a 12 month low of $2.04 and a 12 month high of $8.91.

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

Wall Street Analyst Weigh In

EVLV has been the topic of several research analyst reports. Lake Street Capital upgraded Evolv Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $5.50 to $9.00 in a report on Friday, August 15th. Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective on the stock in a report on Wednesday, May 21st. Cantor Fitzgerald upped their price objective on Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Zacks Research cut Evolv Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 27th. Finally, TD Cowen restated a "buy" rating and set a $10.00 price target on shares of Evolv Technologies in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.88.

Insider Activity

In other Evolv Technologies news, major shareholder Gates Frontier, Llc sold 776,236 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the transaction, the insider owned 17,189,096 shares of the company's stock, valued at approximately $140,950,587.20. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.30% of the company's stock.

Evolv Technologies 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.

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