Ironwood Investment Management LLC Makes New Investment in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Ironwood Investment Management LLC bought a new position in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 283,906 shares of the company's stock, valued at approximately $724,000. Ironwood Investment Management LLC owned 0.18% of Evolv Technologies as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. MCF Advisors LLC grew its holdings in Evolv Technologies by 84.5% in the first quarter. MCF Advisors LLC now owns 6,549 shares of the company's stock worth $29,000 after purchasing an additional 3,000 shares during the period. Foundations Investment Advisors LLC purchased a new stake in shares of Evolv Technologies during the second quarter valued at approximately $30,000. Worth Financial Advisory Group LLC grew its holdings in shares of Evolv Technologies by 42.0% during the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company's stock valued at $38,000 after buying an additional 4,435 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Evolv Technologies during the first quarter valued at approximately $45,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Evolv Technologies by 30.5% during the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company's stock valued at $45,000 after buying an additional 4,127 shares during the last quarter. 66.65% of the stock is owned by institutional investors.

Evolv Technologies Price Performance

Evolv Technologies stock traded down $0.13 during midday trading on Monday, reaching $4.05. 965,517 shares of the company traded hands, compared to its average volume of 1,533,705. The firm has a market capitalization of $632.15 million, a price-to-earnings ratio of -6.64 and a beta of 1.25. The business has a 50 day moving average of $3.68 and a two-hundred day moving average of $3.41. Evolv Technologies Holdings, Inc. has a 12 month low of $2.01 and a 12 month high of $5.73.

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

Analyst Upgrades and Downgrades

Separately, Northland Securities cut their price target on shares of Evolv Technologies from $6.50 to $5.50 and set an "outperform" rating on the stock in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

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.