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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the recipient of some unusual options trading on Tuesday. Investors acquired 5,513 call options on the stock. This represents an increase of 1,690% compared to the average volume of 308 call options.

Analyst Ratings Changes

Several research analysts have recently commented on EVLV shares. Wall Street Zen raised Evolv Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Cantor Fitzgerald upgraded shares of Evolv Technologies to a "strong-buy" rating in a research report on Wednesday, May 21st. Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective for the company in a research report on Wednesday, May 21st. Northland Capmk upgraded shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, Lake Street Capital lifted their target price on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $6.50.

Institutional Investors Weigh In On Evolv Technologies

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Evolv Technologies by 2,428.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company's stock worth $6,036,000 after acquiring an additional 1,467,538 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of Evolv Technologies in the fourth quarter worth about $899,000. Vanguard Group Inc. increased its holdings in Evolv Technologies by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company's stock valued at $35,256,000 after buying an additional 238,963 shares in the last quarter. MIG Capital LLC acquired a new stake in shares of Evolv Technologies in the fourth quarter valued at about $375,000. Finally, Northern Trust Corp grew its stake in Evolv Technologies by 6.3% during the 4th quarter. Northern Trust Corp now owns 1,136,210 shares of the company's stock valued at $4,488,000 after acquiring an additional 67,146 shares in the last quarter. 66.65% of the stock is owned by institutional investors.

Evolv Technologies Trading Down 2.0%

EVLV traded down $0.11 during midday trading on Thursday, reaching $5.46. The company's stock had a trading volume of 4,723,980 shares, compared to its average volume of 1,968,844. Evolv Technologies has a 1 year low of $2.04 and a 1 year high of $6.16. The stock's 50-day moving average is $3.95 and its 200-day moving average is $3.71. The firm has a market capitalization of $895.42 million, a price-to-earnings ratio of -39.00 and a beta of 1.61.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.07. The firm had revenue of $32.01 million during the quarter, compared to analyst estimates of $26.40 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. As a group, equities research analysts forecast that Evolv Technologies will post -0.27 earnings per share for the current fiscal year.

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.