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

Key Points

• Evolv Technologies saw a significant increase in options trading with 5,513 call options purchased, marking a rise of approximately 1,690% compared to its average daily volume.
• Analyst ratings for Evolv Technologies have improved, with several firms upgrading their ratings and price targets, resulting in a consensus Buy rating and an average price target of $8.88.
• The company reported a loss, with an EPS of ($0.25) for the last quarter, missing expectations and reflecting ongoing challenges in achieving profitability.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) saw unusually large options trading activity on Tuesday. Stock investors acquired 5,513 call options on the company. Thisisanincreaseof1,690% compared to the average daily volume of 308 call options.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. CW Advisors LLC increased its stake in shares of Evolv Technologies by 19.0% in the 2nd quarter. CW Advisors LLC now owns 12,614 shares of the company's stock valued at $79,000 after acquiring an additional 2,014 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Evolv Technologies by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company's stock valued at $296,000 after acquiring an additional 3,276 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Evolv Technologies by 38.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company's stock valued at $81,000 after acquiring an additional 3,596 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Evolv Technologies by 6.1% in the 1st quarter. American Century Companies Inc. now owns 63,315 shares of the company's stock valued at $198,000 after acquiring an additional 3,633 shares in the last quarter. Finally, Mariner LLC increased its stake in shares of Evolv Technologies by 15.9% in the 4th quarter. Mariner LLC now owns 26,532 shares of the company's stock valued at $105,000 after acquiring an additional 3,639 shares in the last quarter. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Stock Performance

NASDAQ:EVLV traded up $0.54 during mid-day trading on Friday, reaching $8.37. 4,844,607 shares of the company's stock were exchanged, compared to its average volume of 2,427,421. Evolv Technologies has a one year low of $2.04 and a one year high of $8.91. The firm has a market capitalization of $1.44 billion, a PE ratio of -15.22 and a beta of 1.70. The business's fifty day simple moving average is $6.42 and its two-hundred day simple moving average is $4.82.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). The company had revenue of $26.68 million during the quarter, compared to analyst estimates of $30.95 million. Evolv Technologies had a negative net margin of 73.04% and a negative return on equity of 76.80%. Evolv Technologies has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Evolv Technologies will post -0.27 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. TD Cowen reissued a "buy" rating and set a $10.00 target price on shares of Evolv Technologies in a research note on Friday, August 15th. Lake Street Capital upgraded shares of Evolv Technologies from a "hold" rating to a "buy" rating and lifted their target price for the stock from $5.50 to $9.00 in a report on Friday, August 15th. Cantor Fitzgerald lifted their target price on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Northland Securities raised shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 target price for the company in a research note on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, Evolv Technologies presently has an average rating of "Buy" and an average price target of $8.88.

Evolv Technologies Company Profile

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.