Principal Financial Group Inc. Boosts Position in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Principal Financial Group Inc. raised its stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 30.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,650 shares of the company’s stock after purchasing an additional 4,127 shares during the period. Principal Financial Group Inc.’s holdings in Evolv Technologies were worth $45,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Key Colony Management LLC boosted its holdings in shares of Evolv Technologies by 64.5% in the 1st 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 in the last quarter. Glenview Capital Management LLC lifted its position in Evolv Technologies by 21.7% in the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after acquiring an additional 1,000,000 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Evolv Technologies in the first quarter valued at $2,897,000. Vanguard Group Inc. grew its holdings in shares of Evolv Technologies by 6.0% during the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock worth $32,013,000 after purchasing an additional 407,396 shares during the last quarter. Finally, Axiom Investors LLC DE increased its position in shares of Evolv Technologies by 92.0% during the fourth quarter. Axiom Investors LLC DE now owns 365,155 shares of the company’s stock worth $1,724,000 after purchasing an additional 175,000 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Stock Performance

NASDAQ EVLV opened at $4.19 on Tuesday. Evolv Technologies Holdings, Inc. has a one year low of $2.01 and a one year high of $5.73. The firm has a market cap of $654.00 million, a PE ratio of -6.87 and a beta of 1.25. The firm’s fifty day moving average is $3.46 and its two-hundred day moving average is $3.38.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (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 firm had revenue of $25.54 million for the quarter, compared to analysts’ expectations of $23.57 million. Research analysts predict that Evolv Technologies Holdings, Inc. will post -0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Craig Hallum assumed coverage on Evolv Technologies in a research report on Monday, May 20th. They issued a “buy” rating and a $5.75 target price for the company. Northland Securities reduced their price objective on Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.75.

Evolv Technologies Company 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.