Investors Buy High Volume of Call Options on Evolv Technologies (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 is an increase of approximately 1,690% compared to the typical volume of 308 call options.

Institutional Trading of Evolv Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of EVLV. MCF Advisors LLC raised its stake in Evolv Technologies by 84.5% during the 1st 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 worth $45,000. Worth Financial Advisory Group LLC bought a new position in shares of Evolv Technologies during the fourth quarter worth $50,000. Worth Venture Partners LLC purchased a new position in Evolv Technologies during the fourth quarter valued at $53,000. Finally, Victory Capital Management Inc. increased its holdings in Evolv Technologies by 26.2% in the 4th quarter. Victory Capital Management Inc. now owns 12,682 shares of the company’s stock valued at $60,000 after acquiring an additional 2,629 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EVLV has been the subject of a number of research reports. TD Cowen decreased their price target on shares of Evolv Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Lake Street Capital lowered Evolv Technologies from a “buy” rating to a “hold” rating and decreased their target price for the stock from $6.00 to $3.50 in a research report on Friday, May 10th. Craig Hallum assumed coverage on Evolv Technologies in a research report on Monday, May 20th. They set a “buy” rating and a $5.75 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 price objective on shares of Evolv Technologies in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Evolv Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $5.65.

Read Our Latest Stock Analysis on Evolv Technologies

Evolv Technologies Stock Performance

Evolv Technologies stock opened at $2.53 on Wednesday. The stock has a market cap of $394.91 million, a PE ratio of -4.15 and a beta of 1.24. The stock has a fifty day moving average of $2.74 and a 200 day moving average of $3.79. Evolv Technologies has a one year low of $2.01 and a one year high of $8.30.

Evolv Technologies (NASDAQ:EVLVGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. The business had revenue of $21.67 million for the quarter, compared to the consensus estimate 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 period last year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts predict that Evolv Technologies will post -0.37 EPS for the current fiscal year.

Evolv Technologies Company Profile

(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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