Los Angeles Capital Management LLC Takes $817,000 Position in Evolv Technologies Holdings, Inc. $EVLV

Los Angeles Capital Management LLC acquired a new stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,978 shares of the company’s stock, valued at approximately $817,000. Los Angeles Capital Management LLC owned about 0.08% of Evolv Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. CW Advisors LLC purchased a new stake in Evolv Technologies in the first quarter valued at $33,000. Teacher Retirement System of Texas acquired a new stake in shares of Evolv Technologies during the 1st quarter worth about $50,000. PDT Partners LLC acquired a new stake in shares of Evolv Technologies during the 1st quarter worth about $57,000. 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 valued at $58,000 after buying an additional 15,000 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Evolv Technologies in the 2nd quarter valued at about $124,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Evolv Technologies

In other news, insider Anil Chitkara sold 120,000 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $8.20, for a total value of $984,000.00. Following the sale, the insider directly owned 1,275,100 shares in the company, valued at approximately $10,455,820. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Gates Frontier, Llc sold 776,236 shares of Evolv Technologies stock in a transaction on 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 transaction, the insider owned 17,189,096 shares of the company’s stock, valued at approximately $140,950,587.20. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,911,445 shares of company stock valued at $15,560,635. 11.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EVLV has been the subject of several research analyst reports. TD Cowen reaffirmed a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research note on Friday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Evolv Technologies in a research note on Wednesday, October 8th. Cantor Fitzgerald increased their price objective on shares of Evolv Technologies from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, August 15th. Zacks Research upgraded shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Finally, Lake Street Capital raised Evolv Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $5.50 to $9.00 in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Evolv Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.88.

Evolv Technologies Stock Performance

Shares of EVLV opened at $6.58 on Friday. The company’s 50-day simple moving average is $7.84 and its 200-day simple moving average is $6.71. Evolv Technologies Holdings, Inc. has a 1 year low of $2.48 and a 1 year high of $8.91. The stock has a market capitalization of $1.13 billion, a PE ratio of -11.96 and a beta of 1.70.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The firm had revenue of $42.85 million for the quarter, compared to the consensus estimate of $33.73 million. Evolv Technologies had a negative net margin of 73.04% and a negative return on equity of 76.80%. Evolv Technologies has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current 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.