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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) saw some unusual options trading activity on Tuesday. Traders acquired 5,513 call options on the company. This is an increase of 1,690% compared to the typical volume of 308 call options.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EVLV. Wall Street Zen upgraded Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Lake Street Capital raised their price target on shares of Evolv Technologies from $4.00 to $5.50 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Northland Capmk raised shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Cantor Fitzgerald raised shares of Evolv Technologies to a "strong-buy" rating in a report on Wednesday, May 21st. Finally, 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 report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Evolv Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

Evolv Technologies Price Performance

Shares of EVLV stock traded up $0.06 on Friday, hitting $6.23. 6,665,180 shares of the stock traded hands, compared to its average volume of 2,094,476. The company's fifty day moving average is $5.01 and its 200 day moving average is $4.03. Evolv Technologies has a 1-year low of $2.04 and a 1-year high of $6.38. The company has a market capitalization of $1.02 billion, a PE ratio of -22.25 and a beta of 1.68.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its earnings results 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. Evolv Technologies had a negative net margin of 38.97% and a negative return on equity of 34.13%. The company had revenue of $32.01 million for the quarter, compared to analysts' expectations of $26.40 million. As a group, equities research analysts expect that Evolv Technologies will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors have recently made changes to their positions in the stock. CW Advisors LLC acquired a new position in shares of Evolv Technologies during the first quarter valued at $33,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Evolv Technologies during the fourth quarter valued at approximately $40,000. Cibc World Markets Corp acquired a new position in shares of Evolv Technologies during the fourth quarter worth approximately $49,000. Teacher Retirement System of Texas bought a new position in Evolv Technologies in the 1st quarter worth approximately $50,000. Finally, PDT Partners LLC bought a new position in Evolv Technologies in the 1st quarter worth approximately $57,000. 66.65% of the stock is owned by institutional investors.

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.