Evolv Technologies Target of Unusually Large Options Trading (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 on Tuesday. Stock traders acquired 5,513 call options on the stock. Thisisanincreaseofapproximately1,690% compared to the average daily volume of 308 call options.

Hedge Funds Weigh In On Evolv Technologies

Several large investors have recently added to or reduced their stakes in EVLV. CW Advisors LLC increased its stake in Evolv Technologies by 19.0% during the second quarter. CW Advisors LLC now owns 12,614 shares of the company's stock worth $79,000 after acquiring an additional 2,014 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Evolv Technologies by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company's stock worth $296,000 after acquiring an additional 3,276 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Evolv Technologies by 38.3% during the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company's stock worth $81,000 after acquiring an additional 3,596 shares during the last quarter. American Century Companies Inc. increased its stake in Evolv Technologies by 6.1% during the first quarter. American Century Companies Inc. now owns 63,315 shares of the company's stock worth $198,000 after acquiring an additional 3,633 shares during the last quarter. Finally, Mariner LLC increased its stake in Evolv Technologies by 15.9% during the fourth quarter. Mariner LLC now owns 26,532 shares of the company's stock worth $105,000 after acquiring an additional 3,639 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Stock Performance

NASDAQ EVLV traded up $0.54 during trading hours on Friday, hitting $8.37. 4,845,173 shares of the company's stock were exchanged, compared to its average volume of 3,531,547. The business's 50 day moving average is $6.49 and its 200-day moving average is $4.86. Evolv Technologies has a 12-month low of $2.04 and a 12-month high of $8.91. The firm has a market capitalization of $1.44 billion, a P/E ratio of -15.22 and a beta of 1.70.

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

Analysts Set New Price Targets

EVLV has been the topic of a number of analyst reports. Cantor Fitzgerald increased their price objective on Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Lake Street Capital raised Evolv Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $5.50 to $9.00 in a research note on Friday, August 15th. Northland Securities raised Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective on the stock in a research note on Wednesday, May 21st. Northland Capmk raised Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Finally, TD Cowen reaffirmed a "buy" rating and set a $10.00 price objective on shares of Evolv Technologies in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $8.88.

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.