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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVLV. Key Colony Management LLC grew its stake in Evolv Technologies by 12.1% in the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after purchasing an additional 545,492 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Evolv Technologies by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after buying an additional 355,611 shares during the last quarter. State Street Corp lifted its holdings in shares of Evolv Technologies by 3.0% during the 3rd quarter. State Street Corp now owns 2,663,078 shares of the company’s stock valued at $10,785,000 after buying an additional 78,775 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Evolv Technologies by 20.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock valued at $3,743,000 after buying an additional 158,877 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Evolv Technologies by 159.4% in the third quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock worth $3,581,000 after buying an additional 543,322 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Performance

NASDAQ EVLV opened at $3.91 on Thursday. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73. The business’s fifty day moving average is $3.39 and its two-hundred day moving average is $3.37. The stock has a market capitalization of $616.02 million, a P/E ratio of -27.93 and a beta of 1.67.

Wall Street Analyst Weigh In

EVLV has been the topic of several research analyst reports. Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating 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 research report on Monday, October 28th. Lake Street Capital lowered their price objective on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, TD Cowen cut shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Evolv Technologies presently has an average rating of “Hold” and an average target price of $5.60.

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.