Investors Purchase Large Volume of Call Options on Evolv Technologies (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw unusually large options trading activity on Tuesday. Stock investors acquired 5,513 call options on the company. This is an increase of 1,690% compared to the average daily volume of 308 call options.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EVLV. Zacks Research raised Evolv Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research report on Wednesday, October 8th. Finally, Lake Street Capital lifted their price objective on shares of Evolv Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Evolv Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $9.13.

Evolv Technologies Trading Down 4.1%

Shares of NASDAQ EVLV opened at $6.76 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. Evolv Technologies has a 12 month low of $2.64 and a 12 month high of $8.91. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -18.27 and a beta of 1.85. The business has a fifty day simple moving average of $6.98 and a 200-day simple moving average of $7.03.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.06. Evolv Technologies had a negative return on equity of 55.11% and a negative net margin of 43.76%.The firm had revenue of $42.85 million for the quarter, compared to the consensus estimate of $33.73 million. Sell-side analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

Insider Activity at Evolv Technologies

In other Evolv Technologies news, Director Michael Ellenbogen sold 80,745 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $8.26, for a total transaction of $666,953.70. Following the completion of the transaction, the director directly owned 2,083,961 shares of the company’s stock, valued at approximately $17,213,517.86. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard A. Shapiro purchased 30,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were purchased at an average price of $6.00 per share, for a total transaction of $180,000.00. Following the completion of the transaction, the director owned 52,515 shares in the company, valued at $315,090. This trade represents a 133.24% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 61,300 shares of company stock valued at $363,326 and have sold 440,745 shares valued at $3,618,954. Corporate insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVLV. Vanguard Group Inc. lifted its position in shares of Evolv Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock worth $29,336,000 after buying an additional 477,124 shares during the last quarter. Josh Arnold Investment Consultant LLC acquired a new position in shares of Evolv Technologies during the 1st quarter valued at about $1,248,000. Key Colony Management LLC raised its stake in shares of Evolv Technologies by 2.0% in the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company’s stock valued at $19,375,000 after acquiring an additional 62,000 shares in the last quarter. SCS Capital Management LLC acquired a new stake in Evolv Technologies in the 1st quarter worth approximately $15,061,000. Finally, Nuveen LLC bought a new stake in Evolv Technologies during the first quarter worth approximately $977,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

About Evolv Technologies

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.