Investors Purchase Large Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 5,513 call options on the company. This is an increase of approximately 1,690% compared to the typical volume of 308 call options.

Evolv Technologies Stock Up 1.3%

Shares of NASDAQ EVLV traded up $0.09 during midday trading on Friday, hitting $6.82. 3,854,418 shares of the company's stock were exchanged, compared to its average volume of 2,450,388. The firm has a market capitalization of $1.12 billion, a PE ratio of -24.36 and a beta of 1.70. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $6.83. The company's 50 day moving average price is $5.77 and its 200 day moving average price is $4.33.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) EPS for the quarter, beating 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 business had revenue of $32.01 million for the quarter, compared to analyst estimates of $26.40 million. On average, equities research analysts anticipate that Evolv Technologies will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Evolv Technologies

A number of institutional investors have recently bought and sold shares of the business. CW Advisors LLC acquired a new position in shares of Evolv Technologies during the 1st quarter worth $33,000. B. Riley Wealth Advisors Inc. bought a new position in Evolv Technologies in the 4th quarter valued at approximately $40,000. Cibc World Markets Corp bought a new stake in shares of Evolv Technologies during the fourth quarter worth $49,000. Teacher Retirement System of Texas acquired a new position in shares of Evolv Technologies during the first quarter worth $50,000. Finally, PDT Partners LLC acquired a new position in shares of Evolv Technologies during the first quarter worth $57,000. Institutional investors own 66.65% of the company's stock.

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.