The Manufacturers Life Insurance Company Acquires 7,119 Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

The Manufacturers Life Insurance Company grew its stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 15.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,399 shares of the company’s stock after purchasing an additional 7,119 shares during the period. The Manufacturers Life Insurance Company’s holdings in Evolv Technologies were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC boosted its position in Evolv Technologies by 84.5% in the first quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock valued at $29,000 after buying an additional 3,000 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Evolv Technologies during the 2nd quarter valued at $30,000. Worth Financial Advisory Group LLC boosted its holdings in shares of Evolv Technologies by 42.0% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after acquiring an additional 4,435 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Evolv Technologies during the 1st quarter worth $45,000. Finally, Principal Financial Group Inc. increased its holdings in Evolv Technologies by 30.5% in the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after purchasing an additional 4,127 shares in the last quarter. 66.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Northland Securities cut 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.75.

Evolv Technologies Stock Up 0.9 %

Shares of Evolv Technologies stock opened at $4.30 on Friday. The stock has a market cap of $671.17 million, a price-to-earnings ratio of -7.05 and a beta of 1.25. Evolv Technologies Holdings, Inc. has a twelve month low of $2.01 and a twelve month high of $5.73. The company’s fifty day moving average is $3.89 and its 200 day moving average is $3.42.

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

About Evolv Technologies

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.