Millennium Management LLC Sells 20,706 Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Millennium Management LLC cut its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 28.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,307 shares of the company’s stock after selling 20,706 shares during the quarter. Millennium Management LLC’s holdings in Evolv Technologies were worth $203,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Evolv Technologies by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company’s stock valued at $296,000 after purchasing an additional 3,276 shares during the period. Mariner LLC increased its position in Evolv Technologies by 15.9% in the 4th quarter. Mariner LLC now owns 26,532 shares of the company’s stock valued at $105,000 after buying an additional 3,639 shares in the last quarter. MetLife Investment Management LLC raised its stake in Evolv Technologies by 12.4% during the 4th quarter. MetLife Investment Management LLC now owns 86,630 shares of the company’s stock worth $342,000 after buying an additional 9,575 shares during the period. Autumn Glory Partners LLC bought a new position in Evolv Technologies in the fourth quarter worth approximately $40,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $211,000 after acquiring an additional 10,748 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Evolv Technologies Trading Down 6.2%

Shares of Evolv Technologies stock opened at $5.18 on Friday. The company has a market capitalization of $849.50 million, a P/E ratio of -37.00 and a beta of 1.68. The stock has a fifty day simple moving average of $4.47 and a 200 day simple moving average of $3.91. Evolv Technologies Holdings, Inc. has a 12-month low of $2.04 and a 12-month high of $6.16.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $32.01 million for the quarter, compared to the consensus estimate of $26.40 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. On average, analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on EVLV. Cantor Fitzgerald upgraded Evolv Technologies to a “strong-buy” rating in a report on Wednesday, May 21st. Lake Street Capital boosted their price target on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a research note 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. Wall Street Zen upgraded shares of Evolv Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Northland Securities raised 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 research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

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.