Sequoia Financial Advisors LLC Makes New Investment in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Sequoia Financial Advisors LLC acquired a new position in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,090 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Evolv Technologies by 1.3% in the third quarter. Vanguard Group Inc. now owns 6,530,427 shares of the company’s stock valued at $31,738,000 after acquiring an additional 81,689 shares in the last quarter. Glenview Capital Management LLC grew its holdings in shares of Evolv Technologies by 21.7% in the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after acquiring an additional 1,000,000 shares in the last quarter. Edge Capital Group LLC grew its holdings in shares of Evolv Technologies by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 4,819,327 shares of the company’s stock valued at $22,747,000 after acquiring an additional 56,500 shares in the last quarter. Key Colony Management LLC grew its holdings in shares of Evolv Technologies by 64.5% in the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after acquiring an additional 1,795,099 shares in the last quarter. Finally, Sapient Capital LLC grew its holdings in shares of Evolv Technologies by 1.7% in the first quarter. Sapient Capital LLC now owns 686,736 shares of the company’s stock valued at $3,056,000 after acquiring an additional 11,400 shares in the last quarter. 66.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Craig Hallum assumed coverage on Evolv Technologies in a report on Monday, May 20th. They issued a “buy” rating and a $5.75 target price for the company. TD Cowen dropped their price objective on Evolv Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price objective on shares of Evolv Technologies in a research note on Thursday, March 28th. Finally, Lake Street Capital downgraded Evolv Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $6.00 to $3.50 in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Evolv Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.65.

Evolv Technologies Stock Performance

Shares of EVLV stock opened at $2.49 on Thursday. Evolv Technologies Holdings, Inc. has a 52-week low of $2.01 and a 52-week high of $8.30. The company has a market capitalization of $388.66 million, a PE ratio of -4.08 and a beta of 1.24. The business’s fifty day moving average is $2.71 and its 200 day moving average is $3.78.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. Evolv Technologies had a negative return on equity of 45.57% and a negative net margin of 106.93%. The company had revenue of $21.67 million for the quarter, compared to the consensus estimate of $23.17 million. During the same quarter last year, the business posted ($0.15) earnings per share. On average, sell-side analysts forecast that Evolv Technologies Holdings, Inc. will post -0.37 EPS 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.