Bank of America Corp DE reduced its position in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 52.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,947 shares of the company's stock after selling 64,730 shares during the period. Bank of America Corp DE's holdings in Evolv Technologies were worth $229,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. Autumn Glory Partners LLC acquired a new position in shares of Evolv Technologies in the fourth quarter worth about $40,000. Ardent Capital Management Inc. increased its holdings in Evolv Technologies by 80.8% during the 4th quarter. Ardent Capital Management Inc. now owns 66,926 shares of the company's stock worth $264,000 after purchasing an additional 29,915 shares during the last quarter. Edge Capital Group LLC raised its position in shares of Evolv Technologies by 0.8% in the 4th quarter. Edge Capital Group LLC now owns 4,835,206 shares of the company's stock valued at $19,099,000 after purchasing an additional 36,400 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Evolv Technologies by 4.0% during the 4th quarter. Bank of New York Mellon Corp now owns 360,420 shares of the company's stock valued at $1,424,000 after buying an additional 13,870 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new position in shares of Evolv Technologies during the 4th quarter valued at approximately $211,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on EVLV shares. Wall Street Zen upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Lake Street Capital boosted their target price on shares of Evolv Technologies from $4.00 to $5.50 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Northland Securities upgraded shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 target price on the stock in a research note on Wednesday, May 21st. Northland Capmk upgraded Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Finally, Cantor Fitzgerald upgraded Evolv Technologies to a "strong-buy" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $6.50.
Read Our Latest Report on EVLV
Evolv Technologies Stock Performance
Evolv Technologies stock opened at $5.05 on Friday. Evolv Technologies Holdings, Inc. has a 1 year low of $2.04 and a 1 year high of $6.16. The firm's 50-day moving average is $4.51 and its 200-day moving average is $3.92. The company has a market cap of $828.18 million, a P/E ratio of -36.07 and a beta of 1.68.
Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. The firm had revenue of $32.01 million for the quarter, compared to analyst estimates of $26.40 million. As a group, sell-side analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current year.
Evolv Technologies Profile
(
Free Report)
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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