Investors 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 purchased 5,513 call options on the company. This represents an increase of 1,690% compared to the average volume of 308 call options.

Wall Street Analysts Forecast Growth

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

Evolv Technologies Price Performance

NASDAQ EVLV opened at $6.43 on Wednesday. The firm has a market cap of $1.05 billion, a P/E ratio of -22.96 and a beta of 1.70. The stock's 50-day moving average is $5.58 and its 200-day moving average is $4.24. Evolv Technologies has a one year low of $2.04 and a one year high of $6.66.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) 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 34.13% and a negative net margin of 38.97%. Equities analysts anticipate that Evolv Technologies will post -0.27 EPS for the current year.

Institutional Trading of Evolv Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. First Bank & Trust lifted its holdings in shares of Evolv Technologies by 15.8% during the second quarter. First Bank & Trust now owns 48,774 shares of the company's stock worth $304,000 after buying an additional 6,639 shares in the last quarter. Key Colony Management LLC raised its holdings in shares of Evolv Technologies by 2.0% during the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company's stock valued at $19,375,000 after buying an additional 62,000 shares in the last quarter. Militia Capital Partners LP grew its position in shares of Evolv Technologies by 108.0% in the 1st 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 raised its stake in Evolv Technologies by 5.3% during the first quarter. Rhumbline Advisers now owns 178,391 shares of the company's stock valued at $557,000 after buying an additional 8,967 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in Evolv Technologies during the first quarter valued at approximately $15,061,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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