Edge Capital Group LLC Increases Stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Edge Capital Group LLC increased its holdings in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 0.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,835,206 shares of the company’s stock after purchasing an additional 36,400 shares during the period. Evolv Technologies makes up about 1.0% of Edge Capital Group LLC’s holdings, making the stock its 26th biggest holding. Edge Capital Group LLC owned approximately 3.07% of Evolv Technologies worth $19,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVLV. SG Americas Securities LLC bought a new stake in Evolv Technologies during the 3rd quarter valued at $44,000. Sequoia Financial Advisors LLC raised its holdings in Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after buying an additional 5,100 shares during the last quarter. First Bank & Trust bought a new stake in Evolv Technologies during the 3rd quarter valued at $52,000. GSA Capital Partners LLP raised its holdings in Evolv Technologies by 159.4% during the 3rd quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock valued at $3,581,000 after buying an additional 543,322 shares during the last quarter. Finally, Phillips Financial Management LLC bought a new stake in Evolv Technologies during the 3rd quarter valued at $99,000. 66.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on EVLV shares. Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. TD Cowen lowered shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Lake Street Capital decreased their price objective on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.60.

Evolv Technologies Price Performance

NASDAQ:EVLV opened at $3.59 on Monday. The firm’s 50-day moving average price is $3.75 and its 200-day moving average price is $3.65. The company has a market capitalization of $565.60 million, a PE ratio of -25.64 and a beta of 1.66. Evolv Technologies Holdings, Inc. has a 1-year low of $2.01 and a 1-year high of $5.28.

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.