Silvercrest Asset Management Group LLC Makes New $2.90 Million Investment in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Silvercrest Asset Management Group LLC bought a new stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 650,917 shares of the company’s stock, valued at approximately $2,897,000. Silvercrest Asset Management Group LLC owned 0.42% of Evolv Technologies at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MCF Advisors LLC boosted its stake in shares of 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 purchasing an additional 3,000 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Evolv Technologies in the first quarter valued at $45,000. Worth Venture Partners LLC purchased a new position in shares of Evolv Technologies in the fourth quarter valued at $53,000. Victory Capital Management Inc. boosted its stake in shares of Evolv Technologies by 26.2% in the fourth quarter. Victory Capital Management Inc. now owns 12,682 shares of the company’s stock valued at $60,000 after purchasing an additional 2,629 shares during the period. Finally, Simplicity Solutions LLC purchased a new position in shares of Evolv Technologies in the fourth quarter valued at $67,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on EVLV. TD Cowen cut their price target on shares of Evolv Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Craig Hallum began coverage on shares of Evolv Technologies in a report on Monday, May 20th. They issued a “buy” rating and a $5.75 price target on the stock. Finally, Lake Street Capital cut shares of Evolv Technologies from a “buy” rating to a “hold” rating and cut their price target for the company from $6.00 to $3.50 in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Evolv Technologies presently has an average rating of “Moderate Buy” and an average price target of $5.65.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV opened at $3.38 on Wednesday. Evolv Technologies Holdings, Inc. has a 1-year low of $2.01 and a 1-year high of $8.30. The company’s fifty day moving average is $2.73 and its two-hundred day moving average is $3.64.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.06. The business had revenue of $21.67 million during the quarter, compared to analyst estimates of $23.17 million. Evolv Technologies had a negative net margin of 106.93% and a negative return on equity of 45.57%. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. Equities analysts predict that Evolv Technologies Holdings, Inc. will post -0.37 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.