Bank of New York Mellon Corp Purchases 54,010 Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Bank of New York Mellon Corp raised its holdings in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 13.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 443,006 shares of the company’s stock after acquiring an additional 54,010 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Evolv Technologies worth $1,130,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Evolv Technologies by 26.2% during the 4th quarter. Victory Capital Management Inc. now owns 12,682 shares of the company’s stock valued at $60,000 after purchasing an additional 2,629 shares during the last quarter. Swiss National Bank boosted its position in Evolv Technologies by 7.1% during the fourth quarter. Swiss National Bank now owns 192,200 shares of the company’s stock valued at $907,000 after buying an additional 12,700 shares during the period. Aigen Investment Management LP grew its stake in shares of Evolv Technologies by 25.7% during the fourth quarter. Aigen Investment Management LP now owns 41,480 shares of the company’s stock valued at $196,000 after buying an additional 8,473 shares during the last quarter. Millrace Asset Group Inc. lifted its stake in shares of Evolv Technologies by 65.6% in the 4th quarter. Millrace Asset Group Inc. now owns 413,440 shares of the company’s stock valued at $1,951,000 after acquiring an additional 163,773 shares during the last quarter. Finally, Axiom Investors LLC DE boosted its holdings in Evolv Technologies by 92.0% during the 4th quarter. Axiom Investors LLC DE now owns 365,155 shares of the company’s stock valued at $1,724,000 after acquiring an additional 175,000 shares during the period. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Stock Performance

NASDAQ EVLV opened at $4.47 on Friday. The stock has a market cap of $697.71 million, a P/E ratio of -7.33 and a beta of 1.25. Evolv Technologies Holdings, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $5.73. The stock has a 50 day simple moving average of $3.55 and a two-hundred day simple moving average of $3.39.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.15. The company had revenue of $25.54 million during the quarter, compared to analyst estimates of $23.57 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. Sell-side analysts predict that Evolv Technologies Holdings, Inc. will post -0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Northland Securities decreased their price target on Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating on the stock in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.