Evolv Technologies Sees Unusually Large Options Volume (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 represents an increase of 1,690% compared to the average daily volume of 308 call options.

Evolv Technologies Stock Down 3.1 %

Shares of NASDAQ:EVLV traded down $0.14 on Monday, hitting $4.21. 340,975 shares of the company traded hands, compared to its average volume of 1,766,922. The company has a market cap of $662.50 million, a PE ratio of -30.00 and a beta of 1.68. The stock has a 50 day simple moving average of $3.31 and a 200-day simple moving average of $3.46. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $4.65.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital lifted their price target on Evolv Technologies from $2.75 to $4.00 and gave the company a "hold" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $5.31.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in Evolv Technologies by 352.3% in the third quarter. Barclays PLC now owns 211,551 shares of the company's stock valued at $856,000 after acquiring an additional 164,775 shares during the period. Geode Capital Management LLC lifted its stake in shares of Evolv Technologies by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company's stock worth $11,426,000 after purchasing an additional 355,611 shares during the period. Virtu Financial LLC purchased a new position in shares of Evolv Technologies in the third quarter worth approximately $63,000. JPMorgan Chase & Co. grew its position in Evolv Technologies by 8.5% during the third quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company's stock valued at $245,000 after buying an additional 4,756 shares during the period. Finally, Salem Investment Counselors Inc. increased its holdings in Evolv Technologies by 1,012.2% during the fourth quarter. Salem Investment Counselors Inc. now owns 54,500 shares of the company's stock valued at $215,000 after buying an additional 49,600 shares during the last quarter. Institutional investors own 66.65% of the company's stock.

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.