Stock Traders Purchase Large Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 5,513 call options on the company. This is an increase of 1,690% compared to the typical volume of 308 call options.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EVLV shares. Northland Capmk raised shares of Evolv Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Northland Securities raised shares of Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a research note on Wednesday, May 21st. Wall Street Zen raised shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Cantor Fitzgerald raised shares of Evolv Technologies to a “strong-buy” rating in a research report on Wednesday, May 21st. Finally, Lake Street Capital upped their price objective on shares of Evolv Technologies from $4.00 to $5.50 and gave the stock a “hold” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Evolv Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Evolv Technologies Trading Up 2.5%

Shares of NASDAQ EVLV opened at $6.21 on Wednesday. The firm has a fifty day simple moving average of $4.84 and a two-hundred day simple moving average of $3.99. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $6.25. The firm has a market capitalization of $1.02 billion, a PE ratio of -22.18 and a beta of 1.68.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $32.01 million for the quarter, compared to analysts’ expectations of $26.40 million. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. On average, sell-side analysts predict that Evolv Technologies will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CW Advisors LLC purchased a new stake in Evolv Technologies during the first quarter worth $33,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Evolv Technologies in the 4th quarter worth $40,000. Cibc World Markets Corp purchased a new stake in shares of Evolv Technologies during the 4th quarter worth $49,000. Teacher Retirement System of Texas bought a new stake in Evolv Technologies during the first quarter valued at about $50,000. Finally, PDT Partners LLC purchased a new position in Evolv Technologies in the first quarter valued at about $57,000. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Company Profile

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.