Investors Purchase Large Volume of Call Options on Evolv Technologies (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 5,513 call options on the company. This is an increase of approximately 1,690% compared to the average volume of 308 call options.

Hedge Funds Weigh In On Evolv Technologies

A number of large investors have recently made changes to their positions in the stock. Resolute Capital Asset Partners LLC purchased a new stake in Evolv Technologies in the 2nd quarter valued at approximately $510,000. Ironwood Investment Management LLC acquired a new position in shares of Evolv Technologies during the 2nd quarter valued at about $724,000. GSA Capital Partners LLP increased its position in Evolv Technologies by 159.4% during the third quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock worth $3,581,000 after purchasing an additional 543,322 shares during the last quarter. Key Colony Management LLC increased its position in Evolv Technologies by 12.1% during the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after purchasing an additional 545,492 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Evolv Technologies during the 3rd quarter worth $1,614,000. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. 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 reduced 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. TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Finally, Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.60.

Evolv Technologies Trading Up 1.4 %

EVLV stock opened at $4.43 on Wednesday. The company has a market capitalization of $697.95 million, a P/E ratio of -31.64 and a beta of 1.66. The business has a 50 day simple moving average of $3.42 and a 200-day simple moving average of $3.29. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $5.73.

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.