Stock Traders Purchase High 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 investors bought 5,513 call options on the company. This represents an increase of approximately 1,690% compared to the typical volume of 308 call options.

Analysts Set New Price Targets

EVLV has been the topic of several recent analyst reports. Lake Street Capital increased their target price on Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a report on Wednesday, May 21st. Northland Securities upgraded Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price objective on the stock in a report on Wednesday, May 21st. Wall Street Zen upgraded Evolv Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Northland Capmk raised Evolv Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Finally, Cantor Fitzgerald upgraded shares of Evolv Technologies to a “strong-buy” rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Evolv Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Evolv Technologies by 2,428.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company’s stock valued at $6,036,000 after purchasing an additional 1,467,538 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Evolv Technologies in the fourth quarter valued at $899,000. Vanguard Group Inc. increased its stake in Evolv Technologies by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company’s stock valued at $35,256,000 after purchasing an additional 238,963 shares during the period. MIG Capital LLC purchased a new stake in shares of Evolv Technologies in the fourth quarter valued at about $375,000. Finally, Northern Trust Corp boosted its stake in shares of Evolv Technologies by 6.3% during the fourth quarter. Northern Trust Corp now owns 1,136,210 shares of the company’s stock worth $4,488,000 after buying an additional 67,146 shares during the period. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Stock Performance

Shares of EVLV stock opened at $6.09 on Thursday. The stock’s 50-day moving average is $4.90 and its two-hundred day moving average is $4.00. Evolv Technologies has a 1 year low of $2.04 and a 1 year high of $6.38. The firm has a market cap of $998.76 million, a price-to-earnings ratio of -21.75 and a beta of 1.68.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $32.01 million during 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%. As a group, research analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

About Evolv Technologies

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.