First Bank & Trust Raises Stock Holdings in Evolv Technologies Holdings, Inc. $EVLV

First Bank & Trust raised its position in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 15.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,774 shares of the company’s stock after acquiring an additional 6,639 shares during the period. First Bank & Trust’s holdings in Evolv Technologies were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of EVLV. CW Advisors LLC purchased a new stake in shares of Evolv Technologies during the 1st quarter worth approximately $33,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Evolv Technologies during the 4th quarter worth approximately $40,000. Teacher Retirement System of Texas purchased a new stake in shares of Evolv Technologies during the 1st quarter worth approximately $50,000. PDT Partners LLC purchased a new stake in shares of Evolv Technologies during the 1st quarter worth approximately $57,000. Finally, SouthState Corp raised its holdings in shares of Evolv Technologies by 420.1% during the 1st quarter. SouthState Corp now owns 18,571 shares of the company’s stock worth $58,000 after acquiring an additional 15,000 shares in the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Trading Down 0.7%

EVLV opened at $8.37 on Wednesday. Evolv Technologies Holdings, Inc. has a 12-month low of $2.04 and a 12-month high of $8.91. The business’s fifty day simple moving average is $7.30 and its 200-day simple moving average is $5.38. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -15.22 and a beta of 1.71.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.16). Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%.The firm had revenue of $26.68 million for the quarter, compared to the consensus estimate of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on EVLV shares. Lake Street Capital raised Evolv Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $5.50 to $9.00 in a report on Friday, August 15th. Northland Capmk raised Evolv Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 20th. TD Cowen reissued a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research report on Friday, August 15th. Wall Street Zen raised Evolv Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Cantor Fitzgerald boosted their target price on Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.88.

Insider Buying and Selling at Evolv Technologies

In related news, major shareholder Gates Frontier, Llc sold 776,236 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the completion of the sale, the insider directly owned 17,189,096 shares in the company, valued at $140,950,587.20. This represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 11.30% of the stock is owned by company insiders.

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.