Essex Investment Management Co. LLC Buys Shares of 398,594 Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Essex Investment Management Co. LLC purchased a new position in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 398,594 shares of the company’s stock, valued at approximately $1,614,000.

Other large investors also recently modified their holdings of the company. Sierra Summit Advisors LLC acquired a new position in Evolv Technologies in the 4th quarter worth about $71,000. Key Colony Management LLC increased its stake 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 buying an additional 1,795,099 shares during the period. MCF Advisors LLC raised its holdings in Evolv Technologies by 84.5% in the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock valued at $29,000 after buying an additional 3,000 shares during the last quarter. HB Wealth Management LLC boosted its position in Evolv Technologies by 49.0% during the 1st quarter. HB Wealth Management LLC now owns 35,582 shares of the company’s stock worth $158,000 after buying an additional 11,697 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in Evolv Technologies during the 1st quarter worth approximately $45,000. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Trading Up 5.2 %

EVLV stock traded up $0.20 during mid-day trading on Friday, reaching $4.01. The company’s stock had a trading volume of 610,284 shares, compared to its average volume of 1,522,564. Evolv Technologies Holdings, Inc. has a 12 month low of $2.01 and a 12 month high of $5.73. The business’s 50 day moving average price is $3.78 and its 200 day moving average price is $3.43. The company has a market cap of $625.91 million, a price-to-earnings ratio of -6.57 and a beta of 1.25.

Evolv Technologies (NASDAQ:EVLV) last issued its earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.15. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. The company had revenue of $25.54 million during the quarter, compared to the consensus estimate of $23.57 million. As a group, equities analysts expect that Evolv Technologies Holdings, Inc. will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Northland Securities lowered their price objective on Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.75.

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.