Evolv Technologies Holdings, Inc. $EVLV Stake Boosted by Torray Investment Partners LLC

Key Points

• Torray Investment Partners LLC increased its stake in Evolv Technologies by 171.1% in the first quarter, ending with 353,367 shares worth about $2.14 million.
• Other institutional investors also added to or initiated positions, and hedge funds and other institutions now own 66.65% of Evolv Technologies’ shares.
• The stock fell 1.8% to $5.92, while the company reported a smaller-than-expected quarterly loss and revenue that topped estimates; analysts currently rate the stock Hold on average with a consensus target price of $9.67.

Torray Investment Partners LLC boosted its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 171.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 353,367 shares of the company's stock after buying an additional 223,042 shares during the period. Torray Investment Partners LLC owned about 0.20% of Evolv Technologies worth $2,138,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EVLV. Granite Investment Partners LLC boosted its holdings in shares of Evolv Technologies by 77.4% in the first quarter. Granite Investment Partners LLC now owns 20,562 shares of the company's stock worth $124,000 after buying an additional 8,968 shares during the period. Clare Market Investments LLC purchased a new position in shares of Evolv Technologies in the first quarter worth approximately $659,000. K.J. Harrison & Partners Inc raised its holdings in shares of Evolv Technologies by 12.0% during the first quarter. K.J. Harrison & Partners Inc now owns 56,000 shares of the company's stock valued at $339,000 after acquiring an additional 6,000 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Evolv Technologies during the first quarter valued at approximately $9,722,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Evolv Technologies by 277.6% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 66,556 shares of the company's stock valued at $403,000 after acquiring an additional 48,928 shares in the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Stock Down 1.8%

Shares of NASDAQ EVLV traded down $0.11 during mid-day trading on Friday, reaching $5.92. The company had a trading volume of 1,225,180 shares, compared to its average volume of 2,307,256. The stock has a fifty day moving average of $6.15 and a two-hundred day moving average of $6.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.14 and a current ratio of 1.21. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -25.74 and a beta of 1.77. Evolv Technologies Holdings, Inc. has a 12-month low of $4.86 and a 12-month high of $8.91.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.03. The firm had revenue of $46.33 million for the quarter, compared to the consensus estimate of $44.23 million. Evolv Technologies had a negative net margin of 22.75% and a negative return on equity of 33.53%. As a group, equities research analysts expect that Evolv Technologies Holdings, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. 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 report on Thursday, July 2nd. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $9.67.

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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