Needham Investment Management LLC Increases Stock Position in Evolv Technologies Holdings, Inc. $EVLV

Needham Investment Management LLC increased its position in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 175.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 550,000 shares of the company’s stock after acquiring an additional 350,000 shares during the period. Needham Investment Management LLC’s holdings in Evolv Technologies were worth $3,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its holdings in Evolv Technologies by 187.1% in the 4th quarter. Squarepoint Ops LLC now owns 1,354,108 shares of the company’s stock worth $9,695,000 after acquiring an additional 882,516 shares during the last quarter. Next Century Growth Investors LLC raised its holdings in Evolv Technologies by 28.6% in the 4th quarter. Next Century Growth Investors LLC now owns 820,478 shares of the company’s stock worth $5,875,000 after acquiring an additional 182,706 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in Evolv Technologies in the 4th quarter worth approximately $103,000. Entropy Technologies LP raised its holdings in Evolv Technologies by 46.0% in the 4th quarter. Entropy Technologies LP now owns 33,003 shares of the company’s stock worth $236,000 after acquiring an additional 10,403 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Evolv Technologies by 19.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 76,195 shares of the company’s stock worth $546,000 after acquiring an additional 12,162 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Price Performance

Shares of EVLV opened at $6.13 on Tuesday. The firm has a market cap of $1.10 billion, a PE ratio of -26.65 and a beta of 1.76. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $6.37 and a two-hundred day simple moving average of $6.21. Evolv Technologies Holdings, Inc. has a 1-year low of $4.86 and a 1-year high of $8.91.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $46.33 million during the quarter, compared to analyst estimates of $44.23 million. Evolv Technologies had a negative net margin of 22.75% and a negative return on equity of 33.53%. On average, equities analysts anticipate that Evolv Technologies Holdings, Inc. will post -0.18 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on EVLV. Weiss Ratings upgraded shares of Evolv Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. TD Cowen reiterated a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research note on Tuesday, June 9th. Finally, Zacks Research lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.67.

Evolv Technologies Company Profile

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.