Josh Arnold Investment Consultant LLC Takes Position in Evolv Technologies Holdings, Inc. $EVLV

Key Points

• Josh Arnold Investment Consultant LLC acquired 400,000 shares of Evolv Technologies Holdings, Inc., valued at approximately $1,248,000, marking it as the company's 11th biggest holding.
• Several other institutional investors have also increased their stakes in Evolv Technologies, with overall institutional ownership reaching 66.65%.
• Analysts have mixed ratings on the stock, with an average rating of "Moderate Buy" and a consensus target price of $8.88.

Josh Arnold Investment Consultant LLC bought a new stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 400,000 shares of the company's stock, valued at approximately $1,248,000. Evolv Technologies comprises approximately 1.0% of Josh Arnold Investment Consultant LLC's investment portfolio, making the stock its 11th biggest holding. Josh Arnold Investment Consultant LLC owned 0.24% of Evolv Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Evolv Technologies during the 4th quarter worth about $84,000. Mariner LLC boosted its holdings in shares of Evolv Technologies by 15.9% in the fourth quarter. Mariner LLC now owns 26,532 shares of the company's stock valued at $105,000 after buying an additional 3,639 shares during the period. Dimensional Fund Advisors LP bought a new stake in Evolv Technologies during the fourth quarter worth $899,000. Price T Rowe Associates Inc. MD raised its position in shares of Evolv Technologies by 25.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,225 shares of the company's stock valued at $211,000 after purchasing an additional 10,748 shares during the period. Finally, Northern Trust Corp raised its position in shares of Evolv Technologies by 6.3% in the fourth quarter. Northern Trust Corp now owns 1,136,210 shares of the company's stock valued at $4,488,000 after purchasing an additional 67,146 shares during the period. 66.65% of the stock is owned by institutional investors.

Evolv Technologies Stock Up 1.0%

Shares of NASDAQ:EVLV traded up $0.08 on Tuesday, hitting $8.35. 2,348,166 shares of the company traded hands, compared to its average volume of 2,448,795. Evolv Technologies Holdings, Inc. has a 52 week low of $2.04 and a 52 week high of $8.91. The stock has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $5.19. The company has a market cap of $1.44 billion, a PE ratio of -15.18 and a beta of 1.71.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.16). The company had revenue of $26.68 million for the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on EVLV. Northland Capmk raised shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Lake Street Capital upgraded shares of Evolv Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $5.50 to $9.00 in a research note on Friday, August 15th. 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 report on Wednesday, May 21st. Cantor Fitzgerald boosted their price target on shares of Evolv Technologies from $7.00 to $9.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Finally, Wall Street Zen upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $8.88.

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.