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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of some unusual options trading on Tuesday. Investors bought 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.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Evolv Technologies

Several large investors have recently bought and sold shares of EVLV. SCS Capital Management LLC bought a new stake in Evolv Technologies in the 1st quarter worth about $15,061,000. Marshall Wace LLP increased its holdings in Evolv Technologies by 317.1% in the 4th quarter. Marshall Wace LLP now owns 3,275,025 shares of the company’s stock worth $12,936,000 after buying an additional 2,489,825 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $6,036,000 after buying an additional 1,467,538 shares in the last quarter. Vanguard Group Inc. increased its holdings in Evolv Technologies by 5.3% in the 1st 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 in the last quarter. Finally, Josh Arnold Investment Consultant LLC bought a new stake in Evolv Technologies in the 1st quarter worth about $1,248,000. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV opened at $5.57 on Thursday. Evolv Technologies has a 1-year low of $2.04 and a 1-year high of $6.16. The business has a fifty day moving average price of $3.95 and a 200-day moving average price of $3.71. The company has a market capitalization of $913.46 million, a PE ratio of -39.78 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. The firm had revenue of $32.01 million during the quarter, compared to the consensus estimate of $26.40 million. On average, sell-side analysts anticipate that Evolv Technologies will post -0.27 earnings per share for the current fiscal 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.