Olympiad Research LP Acquires Shares of 22,355 Evolv Technologies Holdings, Inc. $EVLV

Olympiad Research LP bought a new position in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,355 shares of the company’s stock, valued at approximately $139,000.

Several other large investors have also recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in Evolv Technologies in the 1st quarter worth about $50,000. Vanguard Group Inc. grew its holdings in shares of Evolv Technologies by 5.3% during the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock valued at $29,336,000 after buying an additional 477,124 shares during the last quarter. SouthState Corp raised its holdings in Evolv Technologies by 420.1% in the 1st quarter. SouthState Corp now owns 18,571 shares of the company’s stock worth $58,000 after acquiring an additional 15,000 shares during the last quarter. Nuveen LLC bought a new position in Evolv Technologies in the 1st quarter valued at approximately $977,000. Finally, American Century Companies Inc. boosted its stake in Evolv Technologies by 6.1% during the 1st quarter. American Century Companies Inc. now owns 63,315 shares of the company’s stock valued at $198,000 after purchasing an additional 3,633 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EVLV. Lake Street Capital upped their price target on Evolv Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday. TD Cowen reiterated a “buy” rating and issued a $10.00 price target on shares of Evolv Technologies in a research note on Friday, August 15th. Cantor Fitzgerald increased their price objective on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolv Technologies in a research report on Wednesday, October 8th. Finally, Zacks Research raised Evolv Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Evolv Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $9.13.

Evolv Technologies Stock Performance

EVLV opened at $6.00 on Friday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -16.22 and a beta of 1.70. Evolv Technologies Holdings, Inc. has a fifty-two week low of $2.49 and a fifty-two week high of $8.91. The company has a fifty day moving average of $7.80 and a 200 day moving average of $6.72.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. The firm had revenue of $42.85 million during the quarter, compared to analyst estimates of $33.73 million. Evolv Technologies had a negative return on equity of 54.09% and a negative net margin of 43.76%. Evolv Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current year.

Insider Transactions at Evolv Technologies

In other news, insider Anil Chitkara sold 120,000 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $8.20, for a total transaction of $984,000.00. Following the completion of the transaction, the insider directly owned 1,275,100 shares in the company, valued at approximately $10,455,820. This represents a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gates Frontier, Llc sold 776,236 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the completion of the sale, the insider owned 17,189,096 shares in the company, valued at $140,950,587.20. This represents a 4.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,911,445 shares of company stock valued at $15,560,635 in the last ninety days. Corporate insiders own 11.30% of the company’s stock.

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.