Evolv Technologies Sees Unusually Large Options Volume (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) saw unusually large options trading activity on Tuesday. Stock traders purchased 5,513 call options on the company. This represents an increase of 1,690% compared to the average volume of 308 call options.

Evolv Technologies Stock Down 2.3 %

Evolv Technologies stock traded down $0.09 during mid-day trading on Wednesday, hitting $3.85. The company had a trading volume of 672,948 shares, compared to its average volume of 1,496,583. The stock has a market cap of $585.89 million, a price-to-earnings ratio of -5.27 and a beta of 1.35. Evolv Technologies has a 1 year low of $2.96 and a 1 year high of $8.30. The business has a fifty day moving average of $4.29 and a 200 day moving average of $4.33.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The company had revenue of $21.82 million for the quarter, compared to analyst estimates of $18.81 million. Evolv Technologies had a negative net margin of 132.13% and a negative return on equity of 47.56%. Equities analysts anticipate that Evolv Technologies will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In other Evolv Technologies news, insider Anil Chitkara sold 50,000 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the completion of the transaction, the insider now owns 1,200,157 shares in the company, valued at $6,000,785. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Anil Chitkara sold 50,000 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the sale, the insider now directly owns 1,200,157 shares in the company, valued at $6,000,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Ellenbogen sold 54,873 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $5.04, for a total transaction of $276,559.92. Following the sale, the insider now owns 1,975,473 shares in the company, valued at $9,956,383.92. The disclosure for this sale can be found here. 10.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds have recently added to or reduced their stakes in EVLV. BlackRock Inc. increased its stake in Evolv Technologies by 35.3% in the second quarter. BlackRock Inc. now owns 7,068,731 shares of the company's stock valued at $42,412,000 after purchasing an additional 1,844,116 shares during the last quarter. Key Colony Management LLC grew its position in shares of Evolv Technologies by 64.5% during the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company's stock worth $20,368,000 after acquiring an additional 1,795,099 shares during the last quarter. Glenview Capital Management LLC grew its position in shares of Evolv Technologies by 21.7% during the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company's stock worth $26,427,000 after acquiring an additional 1,000,000 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Evolv Technologies during the fourth quarter worth approximately $3,188,000. Finally, Nuveen Asset Management LLC grew its position in shares of Evolv Technologies by 220.2% during the second quarter. Nuveen Asset Management LLC now owns 810,232 shares of the company's stock worth $4,861,000 after acquiring an additional 557,211 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald restated an "overweight" rating and set a $8.00 target price on shares of Evolv Technologies in a research note on Thursday, March 28th.

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.