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

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

Institutional Investors Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of Evolv Technologies by 352.3% in the 3rd quarter. Barclays PLC now owns 211,551 shares of the company’s stock valued at $856,000 after acquiring an additional 164,775 shares during the period. Geode Capital Management LLC increased its holdings in shares of Evolv Technologies by 14.4% in the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after purchasing an additional 355,611 shares during the period. GSA Capital Partners LLP raised its stake in shares of Evolv Technologies by 159.4% in 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. Charles Schwab Investment Management Inc. lifted its holdings in shares of Evolv Technologies by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock worth $3,743,000 after purchasing an additional 158,877 shares during the period. Finally, Key Colony Management LLC boosted its position in Evolv Technologies by 12.1% in the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after buying an additional 545,492 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EVLV has been the topic of several analyst reports. TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Northland Capmk downgraded shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Finally, Lake Street Capital lowered their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research note on Monday, October 28th. One investment 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. According to MarketBeat.com, Evolv Technologies presently has a consensus rating of “Hold” and an average target price of $5.60.

Evolv Technologies Stock Up 0.2 %

EVLV stock opened at $4.24 on Thursday. The stock has a market capitalization of $668.01 million, a PE ratio of -30.28 and a beta of 1.66. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $5.73. The firm has a 50 day moving average of $3.80 and a 200 day moving average of $3.60.

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.