Evolv Technologies Target of Unusually High Options Trading (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 stock. This is an increase of 1,690% compared to the typical daily volume of 308 call options.

Evolv Technologies Price Performance

Shares of NASDAQ EVLV opened at $4.13 on Thursday. Evolv Technologies has a 1-year low of $2.01 and a 1-year high of $5.73. The business’s 50 day moving average is $3.49 and its two-hundred day moving average is $3.38. The stock has a market capitalization of $644.64 million, a P/E ratio of -6.77 and a beta of 1.25.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.15. The business had revenue of $25.54 million for the quarter, compared to the consensus estimate of $23.57 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. As a group, equities research analysts anticipate that Evolv Technologies will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds have recently bought and sold shares of the business. Key Colony Management LLC lifted its position in shares of Evolv Technologies by 64.5% during the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock worth $20,368,000 after purchasing an additional 1,795,099 shares during the last quarter. Glenview Capital Management LLC grew its holdings in shares of Evolv Technologies by 21.7% in the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock worth $26,427,000 after purchasing an additional 1,000,000 shares during the last quarter. Wealthspire Advisors LLC increased its stake in Evolv Technologies by 49.2% in the 1st quarter. Wealthspire Advisors LLC now owns 18,194 shares of the company’s stock worth $81,000 after buying an additional 6,003 shares during the period. Vanguard Group Inc. lifted its holdings in Evolv Technologies by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after buying an additional 407,396 shares in the last quarter. Finally, Sierra Summit Advisors LLC purchased a new stake in Evolv Technologies in the 4th quarter valued at about $71,000. Institutional investors own 66.65% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northland Securities cut their target price on shares of Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.75.

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.