SCS Capital Management LLC Reduces Stock Holdings in Evolv Technologies Holdings, Inc. $EVLV

SCS Capital Management LLC lowered its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 10.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,321,270 shares of the company’s stock after selling 505,903 shares during the quarter. SCS Capital Management LLC owned 2.63% of Evolv Technologies worth $26,380,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Evolv Technologies by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock worth $29,336,000 after acquiring an additional 477,124 shares during the last quarter. Josh Arnold Investment Consultant LLC purchased a new stake in Evolv Technologies in the 1st quarter worth about $1,248,000. Key Colony Management LLC lifted its stake in Evolv Technologies by 2.0% in the second quarter. Key Colony Management LLC now owns 3,105,000 shares of the company’s stock worth $19,375,000 after purchasing an additional 62,000 shares during the last quarter. Nuveen LLC purchased a new position in shares of Evolv Technologies during the first quarter valued at approximately $977,000. Finally, Sigma Planning Corp purchased a new position in shares of Evolv Technologies during the second quarter valued at approximately $807,000. 66.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Evolv Technologies news, Director Kevin M. Charlton acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average cost of $5.68 per share, with a total value of $85,200.00. Following the completion of the acquisition, the director directly owned 44,081 shares in the company, valued at $250,380.08. This represents a 51.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Ellenbogen sold 80,745 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $8.26, for a total transaction of $666,953.70. Following the completion of the transaction, the director directly owned 2,083,961 shares of the company’s stock, valued at $17,213,517.86. This trade represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have purchased 61,300 shares of company stock worth $363,326 and have sold 1,911,445 shares worth $15,560,635. 11.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EVLV. TD Cowen reiterated a “buy” rating and issued a $10.00 price target on shares of Evolv Technologies in a report on Friday, August 15th. Cantor Fitzgerald increased their target price on Evolv Technologies from $7.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, August 15th. Zacks Research upgraded Evolv Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Lake Street Capital upped their price target on shares of Evolv Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolv Technologies in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.13.

Evolv Technologies Trading Up 2.6%

Shares of NASDAQ EVLV opened at $6.71 on Friday. Evolv Technologies Holdings, Inc. has a twelve month low of $2.64 and a twelve month high of $8.91. The firm has a market cap of $1.17 billion, a PE ratio of -18.14 and a beta of 1.85. The business has a fifty day simple moving average of $7.21 and a two-hundred day simple moving average of $6.90. The company has a quick ratio of 1.20, a current ratio of 1.27 and a debt-to-equity ratio of 0.28.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.06. Evolv Technologies had a negative return on equity of 55.11% and a negative net margin of 43.76%.The firm had revenue of $42.85 million for the quarter, compared to analyst estimates of $33.73 million. Analysts expect that Evolv Technologies Holdings, Inc. will post -0.27 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.