HighTower Advisors LLC Sells 2,933 Shares of Evolv Technologies Holdings, Inc. $EVLV

HighTower Advisors LLC lessened its holdings in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 168,564 shares of the company’s stock after selling 2,933 shares during the quarter. HighTower Advisors LLC owned about 0.10% of Evolv Technologies worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Evolv Technologies by 4.6% during the 4th 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 raised its stake in Evolv Technologies by 15.9% during the 4th quarter. Mariner LLC now owns 26,532 shares of the company’s stock valued at $105,000 after purchasing an additional 3,639 shares during the period. Sapient Capital LLC raised its stake in Evolv Technologies by 0.7% during the 1st quarter. Sapient Capital LLC now owns 735,049 shares of the company’s stock valued at $2,293,000 after purchasing an additional 5,000 shares during the period. Rhumbline Advisers raised its stake in Evolv Technologies by 5.3% during the 1st quarter. Rhumbline Advisers now owns 178,391 shares of the company’s stock valued at $557,000 after purchasing an additional 8,967 shares during the period. Finally, 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 valued at $342,000 after purchasing an additional 9,575 shares during the period. Institutional investors own 66.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EVLV shares. Zacks Research downgraded Evolv Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Northland Securities upgraded Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price target for the company in a report on Wednesday, May 21st. Lake Street Capital upgraded 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 report on Friday, August 15th. Wall Street Zen upgraded Evolv Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, TD Cowen restated a “buy” rating and set a $10.00 price target on shares of Evolv Technologies in a report on Friday, August 15th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.88.

Evolv Technologies Stock Performance

Shares of Evolv Technologies stock opened at $8.24 on Friday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -14.98 and a beta of 1.70. The stock has a 50 day moving average price of $6.78 and a 200-day moving average price of $5.00. Evolv Technologies Holdings, Inc. has a one year low of $2.04 and a one year high of $8.91.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Thursday, August 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.16). The company had revenue of $26.68 million during the quarter, compared to analysts’ expectations of $30.95 million. Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%. Evolv Technologies has set its FY 2025 guidance at EPS. Sell-side analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

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.