Evolv Technologies Target of Unusually High Options Trading (NASDAQ:EVLV)

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

Analyst Ratings Changes

Several research firms recently weighed in on EVLV. Lake Street Capital lowered their target price on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research report on Monday, October 28th. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, TD Cowen cut 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 issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.60.

Evolv Technologies Stock Up 2.4 %

NASDAQ:EVLV opened at $3.44 on Wednesday. The business’s 50-day simple moving average is $3.43 and its two-hundred day simple moving average is $3.18. The stock has a market cap of $541.97 million, a PE ratio of -24.57 and a beta of 1.34. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $5.73.

Institutional Investors Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Evolv Technologies by 6.0% in the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock worth $32,013,000 after purchasing an additional 407,396 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Evolv Technologies by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,813 shares of the company’s stock worth $147,000 after purchasing an additional 5,062 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of Evolv Technologies in the first quarter worth about $2,897,000. Hamilton Lane Advisors LLC increased its holdings in shares of Evolv Technologies by 47.6% in the first quarter. Hamilton Lane Advisors LLC now owns 145,039 shares of the company’s stock worth $645,000 after purchasing an additional 46,790 shares during the last quarter. Finally, Sapient Capital LLC increased its holdings in shares of Evolv Technologies by 7.3% in the second quarter. Sapient Capital LLC now owns 737,136 shares of the company’s stock worth $1,880,000 after purchasing an additional 50,400 shares during the last quarter. 66.65% of the stock is owned by institutional investors.

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.