Evolv Technologies Sees Unusually Large Options Volume (NASDAQ:EVLV)

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

Evolv Technologies Stock Performance

Shares of NASDAQ EVLV opened at $3.91 on Wednesday. Evolv Technologies has a one year low of $2.01 and a one year high of $5.73. The firm has a fifty day moving average of $3.39 and a 200 day moving average of $3.36. The firm has a market cap of $616.02 million, a PE ratio of -27.93 and a beta of 1.67.

Institutional Trading of Evolv Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of EVLV. SG Americas Securities LLC acquired a new position in Evolv Technologies in the third quarter valued at about $44,000. Foundations Investment Advisors LLC acquired a new position in Evolv Technologies during the second quarter worth $30,000. First Bank & Trust purchased a new position in shares of Evolv Technologies during the third quarter worth $52,000. Sequoia Financial Advisors LLC lifted its stake in Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Evolv Technologies during the 3rd quarter valued at about $63,000. 66.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. TD Cowen cut Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Lake Street Capital lowered their price target on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Evolv Technologies has an average rating of “Hold” and a consensus target price of $5.60.

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.