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

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

Insider Transactions at Evolv Technologies

In other news, major shareholder Gates Frontier, Llc sold 776,236 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the completion of the sale, the insider owned 17,189,096 shares in the company, valued at approximately $140,950,587.20. This represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anil Chitkara sold 120,000 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $8.20, for a total value of $984,000.00. Following the sale, the insider owned 1,275,100 shares of the company’s stock, valued at approximately $10,455,820. This trade represents a 8.60% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,911,445 shares of company stock worth $15,560,635. 11.30% of the stock is owned by corporate insiders.

Institutional Trading of Evolv Technologies

A number of large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in Evolv Technologies during the 3rd quarter valued at $60,000. CW Advisors LLC acquired a new stake in Evolv Technologies during the 1st quarter valued at $33,000. Farther Finance Advisors LLC increased its stake in shares of Evolv Technologies by 214.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,304 shares of the company’s stock valued at $93,000 after buying an additional 8,396 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Evolv Technologies by 38.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company’s stock valued at $81,000 after buying an additional 3,596 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Evolv Technologies in the 2nd quarter valued at $94,000. 66.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on EVLV shares. Cantor Fitzgerald increased their target price on Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research note on Wednesday, October 8th. Zacks Research upgraded Evolv Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. TD Cowen restated a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research note on Friday, August 15th. Finally, Lake Street Capital upgraded Evolv Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $5.50 to $9.00 in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.88.

Evolv Technologies Trading Up 1.0%

Shares of EVLV stock opened at $8.15 on Wednesday. The stock has a 50 day moving average of $8.07 and a two-hundred day moving average of $6.41. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $8.91. The company has a market capitalization of $1.40 billion, a P/E ratio of -14.82 and a beta of 1.69.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.16). Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%.The firm had revenue of $26.68 million during the quarter, compared to the consensus estimate of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. Sell-side analysts predict 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.