Stock Traders Buy High Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

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

Evolv Technologies Trading Up 13.8 %

NASDAQ:EVLV opened at $3.92 on Thursday. The firm has a market cap of $616.81 million, a price-to-earnings ratio of -27.96 and a beta of 1.34. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $5.73. The company’s 50-day moving average is $3.41 and its two-hundred day moving average is $3.19.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Lake Street Capital lowered their price objective on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research note on Monday, October 28th. Northland Capmk downgraded shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Finally, TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.60.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Foundations Investment Advisors LLC acquired a new position in Evolv Technologies in the second quarter valued at $30,000. Worth Financial Advisory Group LLC grew its holdings in Evolv Technologies by 42.0% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after buying an additional 4,435 shares during the period. SG Americas Securities LLC acquired a new position in shares of Evolv Technologies during the 3rd quarter valued at about $44,000. Principal Financial Group Inc. lifted its holdings in shares of Evolv Technologies by 30.5% during the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after acquiring an additional 4,127 shares during the period. Finally, First Bank & Trust acquired a new stake in shares of Evolv Technologies in the third quarter worth approximately $52,000. Hedge funds and other 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.