AQR Capital Management LLC Sells 409,686 Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

AQR Capital Management LLC lowered its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 93.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,312 shares of the company’s stock after selling 409,686 shares during the period. AQR Capital Management LLC’s holdings in Evolv Technologies were worth $70,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. MCF Advisors LLC raised its stake in Evolv Technologies by 84.5% in the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock valued at $29,000 after acquiring an additional 3,000 shares during the period. HB Wealth Management LLC raised its stake in Evolv Technologies by 49.0% in the 1st quarter. HB Wealth Management LLC now owns 35,582 shares of the company’s stock valued at $158,000 after acquiring an additional 11,697 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Evolv Technologies in the 1st quarter valued at $45,000. Hamilton Lane Advisors LLC raised its stake in Evolv Technologies by 47.6% in the 1st quarter. Hamilton Lane Advisors LLC now owns 145,039 shares of the company’s stock valued at $645,000 after acquiring an additional 46,790 shares during the period. Finally, Wealthspire Advisors LLC raised its stake in Evolv Technologies by 49.2% in the 1st quarter. Wealthspire Advisors LLC now owns 18,194 shares of the company’s stock valued at $81,000 after acquiring an additional 6,003 shares during the period. Institutional investors own 66.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northland Securities dropped 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.75.

Evolv Technologies Stock Performance

EVLV opened at $4.30 on Friday. The firm has a market cap of $671.17 million, a P/E ratio of -7.05 and a beta of 1.25. Evolv Technologies Holdings, Inc. has a 52-week low of $2.01 and a 52-week high of $5.73. The business’s fifty day moving average is $3.89 and its 200-day moving average is $3.43.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.15. The company had revenue of $25.54 million for 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%. On average, research analysts predict that Evolv Technologies Holdings, Inc. will post -0.26 earnings per share for the current fiscal year.

Evolv Technologies 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.