Vanguard Group Inc. Acquires 477,124 Shares of Evolv Technologies Holdings, Inc. $EVLV

Key Points

• Vanguard Group Inc. increased its stake in Evolv Technologies by 5.3%, owning a total of 9,402,716 shares valued at approximately $29.34 million as of the latest SEC filing.
• Several hedge funds recently established new positions in Evolv Technologies, contributing to institutional investors and hedge funds owning 66.65% of the company's stock.
• Analysts have generally upgraded Evolv Technologies' stock ratings, with a current consensus rating of "Buy" and an average price target of $8.88.

Vanguard Group Inc. boosted its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,402,716 shares of the company's stock after purchasing an additional 477,124 shares during the period. Vanguard Group Inc. owned about 5.75% of Evolv Technologies worth $29,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Platform Technology Partners lifted its position in Evolv Technologies by 21.2% during the first quarter. Platform Technology Partners now owns 224,802 shares of the company's stock valued at $701,000 after purchasing an additional 39,351 shares during the period. Teacher Retirement System of Texas bought a new position in Evolv Technologies during the first quarter valued at approximately $50,000. First Bank & Trust raised its position in Evolv Technologies by 305.8% in the first quarter. First Bank & Trust now owns 42,135 shares of the company's stock worth $131,000 after acquiring an additional 31,752 shares during the period. Salem Investment Counselors Inc. raised its position in Evolv Technologies by 18.3% in the first quarter. Salem Investment Counselors Inc. now owns 64,500 shares of the company's stock worth $201,000 after acquiring an additional 10,000 shares during the period. Finally, Sapient Capital LLC raised its position in Evolv Technologies by 0.7% in the first quarter. Sapient Capital LLC now owns 735,049 shares of the company's stock worth $2,293,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Stock Down 1.4%

EVLV traded down $0.12 on Monday, reaching $8.24. 2,871,525 shares of the company traded hands, compared to its average volume of 3,691,029. Evolv Technologies Holdings, Inc. has a one year low of $2.04 and a one year high of $8.91. The firm has a fifty day simple moving average of $6.78 and a two-hundred day simple moving average of $5.01. The company has a market cap of $1.42 billion, a P/E ratio of -14.98 and a beta of 1.71.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research cut shares of Evolv Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 27th. Cantor Fitzgerald increased their price objective on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a research report 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 for the company in a report on Wednesday, May 21st. Northland Capmk upgraded shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, TD Cowen restated a "buy" rating and issued a $10.00 target price on shares of Evolv Technologies in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $8.88.

About Evolv Technologies

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.