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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock investors bought 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 hedge funds have recently added to or reduced their stakes in EVLV. Militia Capital Partners LP boosted its holdings in Evolv Technologies by 108.0% during the first quarter. Militia Capital Partners LP now owns 260,000 shares of the company's stock worth $811,000 after buying an additional 135,000 shares during the last quarter. Rhumbline Advisers lifted its stake in Evolv Technologies by 5.3% in the 1st quarter. Rhumbline Advisers now owns 178,391 shares of the company's stock valued at $557,000 after acquiring an additional 8,967 shares in the last quarter. SCS Capital Management LLC bought a new stake in Evolv Technologies in the 1st quarter valued at approximately $15,061,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Evolv Technologies by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,928 shares of the company's stock valued at $249,000 after acquiring an additional 5,050 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC bought a new stake in Evolv Technologies in the 1st quarter valued at approximately $1,248,000. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Stock Down 2.5%

Shares of EVLV stock traded down $0.13 during trading hours on Friday, reaching $5.05. 1,982,668 shares of the company's stock were exchanged, compared to its average volume of 2,031,312. Evolv Technologies has a fifty-two week low of $2.04 and a fifty-two week high of $6.16. The stock has a market capitalization of $828.18 million, a P/E ratio of -36.07 and a beta of 1.68. The business has a fifty day moving average price of $4.51 and a 200-day moving average price of $3.92.

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 (EPS) for the quarter, topping the consensus estimate 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, research analysts expect that Evolv Technologies will post -0.27 EPS for the current fiscal year.

Analyst Ratings Changes

EVLV has been the topic of several research reports. Lake Street Capital increased their price objective on shares of Evolv Technologies from $4.00 to $5.50 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Wall Street Zen upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Northland Securities upgraded 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 report on Wednesday, May 21st. Cantor Fitzgerald upgraded shares of Evolv Technologies to a "strong-buy" rating in a report on Wednesday, May 21st. Finally, Northland Capmk raised shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Evolv Technologies currently has an average rating of "Moderate Buy" and an average price target of $6.50.

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.