Stock Traders Buy High Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw unusually large options trading on Tuesday. Investors acquired 5,513 call options on the stock. This is an increase of approximately 1,690% compared to the average volume of 308 call options.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors have recently bought and sold shares of the business. Foundations Investment Advisors LLC bought a new position in Evolv Technologies in the 2nd quarter valued at $30,000. Worth Financial Advisory Group LLC lifted its stake in shares of Evolv Technologies by 42.0% during the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after acquiring an additional 4,435 shares during the period. SG Americas Securities LLC bought a new position in Evolv Technologies in the third quarter valued at about $44,000. Principal Financial Group Inc. increased its position in Evolv Technologies by 30.5% in the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after purchasing an additional 4,127 shares during the period. Finally, First Bank & Trust bought a new stake in Evolv Technologies during the 3rd quarter worth about $52,000. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Trading Up 0.8 %

Shares of Evolv Technologies stock opened at $2.51 on Thursday. The stock has a market capitalization of $395.45 million, a price-to-earnings ratio of -17.93 and a beta of 1.34. Evolv Technologies has a 1-year low of $2.01 and a 1-year high of $5.73. The firm’s 50-day moving average price is $3.60 and its two-hundred day moving average price is $3.24.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EVLV shares. Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Lake Street Capital lowered their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research note on Monday, October 28th. TD Cowen lowered shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Evolv Technologies currently 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.