Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its holdings in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 52.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,947 shares of the company's stock after selling 64,730 shares during the quarter. Bank of America Corp DE's holdings in Evolv Technologies were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Marshall Wace LLP raised its position in shares of Evolv Technologies by 317.1% during the 4th quarter. Marshall Wace LLP now owns 3,275,025 shares of the company's stock valued at $12,936,000 after buying an additional 2,489,825 shares during the period. JPMorgan Chase & Co. raised its position in shares of Evolv Technologies by 2,428.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company's stock valued at $6,036,000 after buying an additional 1,467,538 shares during the period. CenterBook Partners LP raised its position in shares of Evolv Technologies by 15.0% during the 4th quarter. CenterBook Partners LP now owns 3,008,643 shares of the company's stock valued at $11,884,000 after buying an additional 393,563 shares during the period. Vanguard Group Inc. raised its position in shares of Evolv Technologies by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company's stock valued at $35,256,000 after buying an additional 238,963 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Evolv Technologies during the 4th quarter valued at approximately $899,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on EVLV shares. Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald raised shares of Evolv Technologies to a "strong-buy" rating in a research report on Wednesday, May 21st. Lake Street Capital lifted their price target on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Northland Capmk raised shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Finally, Northland Securities raised shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price target on the stock in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

Evolv Technologies Stock Up 5.7%

NASDAQ EVLV traded up $0.30 on Wednesday, reaching $5.53. The stock had a trading volume of 2,714,361 shares, compared to its average volume of 2,042,234. The firm has a market capitalization of $906.92 million, a price-to-earnings ratio of -19.75 and a beta of 1.68. Evolv Technologies Holdings, Inc. has a 12-month low of $2.04 and a 12-month high of $6.16. The stock has a fifty day moving average price of $4.64 and a two-hundred day moving average price of $3.95.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.07. The company had revenue of $32.01 million for the quarter, compared to analyst estimates of $26.40 million. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. Sell-side analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share 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.