Evolv Technologies Holdings, Inc. $EVLV is Key Colony Management LLC’s 3rd Largest Position

Key Colony Management LLC lifted its holdings in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 2.0% in the second quarter, HoldingsChannel reports. The firm owned 3,105,000 shares of the company’s stock after acquiring an additional 62,000 shares during the period. Evolv Technologies makes up about 21.9% of Key Colony Management LLC’s portfolio, making the stock its 3rd biggest holding. Key Colony Management LLC’s holdings in Evolv Technologies were worth $19,375,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP purchased a new stake in Evolv Technologies in the 4th quarter worth approximately $899,000. Price T Rowe Associates Inc. MD grew its stake in Evolv Technologies by 25.3% in the 4th 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 during the period. Northern Trust Corp grew its stake in Evolv Technologies by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,136,210 shares of the company’s stock worth $4,488,000 after acquiring an additional 67,146 shares during the period. Ameriprise Financial Inc. purchased a new stake in Evolv Technologies in the 4th quarter worth approximately $74,000. Finally, BNP Paribas Financial Markets purchased a new stake in Evolv Technologies in the 4th quarter worth approximately $75,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EVLV has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Evolv Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Lake Street Capital upgraded shares of Evolv Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $5.50 to $9.00 in a report on Friday, August 15th. Zacks Research lowered shares of Evolv Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 27th. Northland Securities upgraded shares of Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price target on the stock in a report on Wednesday, May 21st. Finally, Cantor Fitzgerald lifted their target price on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating 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 assigned a Sell rating to the company. According to data from MarketBeat, Evolv Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.88.

Insider Buying and Selling at Evolv Technologies

In other news, major shareholder Gates Frontier, Llc sold 776,236 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $8.20, for a total value of $6,365,135.20. Following the completion of the sale, the insider owned 17,189,096 shares of the company’s stock, valued at approximately $140,950,587.20. The trade was a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.30% of the company’s stock.

Evolv Technologies Price Performance

Evolv Technologies stock opened at $8.76 on Friday. Evolv Technologies Holdings, Inc. has a 12-month low of $2.04 and a 12-month high of $8.91. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -15.93 and a beta of 1.71. The firm’s fifty day moving average price is $7.20 and its 200 day moving average price is $5.29.

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

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.