Evolv Technologies Sees Unusually High Options Volume (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLVGet Free Report) was the target of some unusual options trading on Tuesday. Stock traders bought 5,513 call options on the company. This represents an increase of approximately 1,690% compared to the average daily volume of 308 call options.

Insider Activity at Evolv Technologies

In other Evolv Technologies news, insider Michael Ellenbogen sold 54,873 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $5.04, for a total value of $276,559.92. Following the completion of the sale, the insider now directly owns 1,975,473 shares in the company, valued at $9,956,383.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Anil Chitkara sold 50,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now directly owns 1,200,157 shares in the company, valued at $6,000,785. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Ellenbogen sold 54,873 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $5.04, for a total value of $276,559.92. Following the transaction, the insider now owns 1,975,473 shares of the company’s stock, valued at $9,956,383.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,540 shares of company stock worth $702,395. 10.70% of the stock is owned by insiders.

Institutional Trading of Evolv Technologies

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Evolv Technologies by 35.3% during the 2nd quarter. BlackRock Inc. now owns 7,068,731 shares of the company’s stock worth $42,412,000 after purchasing an additional 1,844,116 shares during the last quarter. Vanguard Group Inc. raised its holdings in Evolv Technologies by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 6,786,566 shares of the company’s stock valued at $32,033,000 after acquiring an additional 256,139 shares in the last quarter. Glenview Capital Management LLC raised its holdings in Evolv Technologies by 21.7% in the 4th quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after acquiring an additional 1,000,000 shares in the last quarter. Edge Capital Group LLC raised its holdings in Evolv Technologies by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 4,819,327 shares of the company’s stock valued at $22,747,000 after acquiring an additional 56,500 shares in the last quarter. Finally, Key Colony Management LLC raised its holdings in Evolv Technologies by 157.8% in the 4th quarter. Key Colony Management LLC now owns 2,781,928 shares of the company’s stock valued at $13,131,000 after acquiring an additional 1,702,928 shares in the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

Evolv Technologies Trading Down 1.1 %

Shares of NASDAQ EVLV opened at $5.06 on Wednesday. Evolv Technologies has a 12 month low of $2.80 and a 12 month high of $8.30. The stock has a 50 day moving average of $4.33 and a 200-day moving average of $4.37.

Evolv Technologies (NASDAQ:EVLVGet Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. Evolv Technologies had a negative return on equity of 47.56% and a negative net margin of 132.13%. The company had revenue of $21.82 million during the quarter, compared to the consensus estimate of $18.81 million. On average, equities analysts anticipate that Evolv Technologies will post -0.48 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price target on shares of Evolv Technologies in a research note on Thursday, March 28th.

Get Our Latest Research Report on EVLV

About Evolv Technologies

(Get Free Report)

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.

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