Sequoia Financial Advisors LLC Grows Stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Sequoia Financial Advisors LLC grew its position in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 50.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,190 shares of the company’s stock after purchasing an additional 5,100 shares during the period. Sequoia Financial Advisors LLC’s holdings in Evolv Technologies were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Essex Investment Management Co. LLC purchased a new stake in Evolv Technologies in the third quarter worth $1,614,000. Key Colony Management LLC boosted its position in Evolv Technologies by 12.1% during the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after purchasing an additional 545,492 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Evolv Technologies during the 3rd quarter worth approximately $44,000. Ironwood Investment Management LLC acquired a new stake in shares of Evolv Technologies in the 2nd quarter worth $724,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Evolv Technologies by 15.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,399 shares of the company’s stock valued at $134,000 after purchasing an additional 7,119 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EVLV has been the topic of a number of research reports. TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday. Lake Street Capital decreased their price objective on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a report on Monday. Finally, Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Evolv Technologies presently has a consensus rating of “Hold” and a consensus target price of $5.60.

Evolv Technologies Stock Performance

EVLV opened at $2.34 on Thursday. The business’s 50-day simple moving average is $3.90 and its 200-day simple moving average is $3.35. The company has a market cap of $368.67 million, a P/E ratio of -16.71 and a beta of 1.25. Evolv Technologies Holdings, Inc. has a one year low of $2.01 and a one year high of $5.73.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share 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 business had revenue of $25.54 million during the quarter, compared to the consensus estimate of $23.57 million. As a group, analysts predict that Evolv Technologies Holdings, Inc. will post -0.26 earnings per share for the current fiscal year.

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.