Evolv Technologies Target of Unusually Large Options Trading (NASDAQ:EVLV)

Key Points

• On Tuesday, stock traders significantly increased their activity in Evolv Technologies by purchasing 5,513 call options, representing a 1,690% increase compared to the average volume.
• Analysts have varied ratings on Evolv Technologies, with a majority offering a Moderate Buy consensus, and target prices ranging from $7.50 to $10.00.
• The company's recent quarterly earnings report showed a loss of ($0.25) per share, missing estimates, with revenue of $26.68 million compared to expectations of $30.95 million.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock investors bought 5,513 call options on the company. Thisrepresentsanincreaseofapproximately1,690% compared to the typical daily volume of 308 call options.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Evolv Technologies by 5.3% during the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company's stock worth $29,336,000 after acquiring an additional 477,124 shares during the last quarter. SCS Capital Management LLC acquired a new position in Evolv Technologies during the 1st quarter worth approximately $15,061,000. Marshall Wace LLP raised its position in Evolv Technologies by 74.4% in the second quarter. Marshall Wace LLP now owns 3,899,155 shares of the company's stock worth $24,331,000 after acquiring an additional 1,662,797 shares in the last quarter. Key Colony Management LLC increased its holdings in shares of Evolv Technologies by 2.0% in the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company's stock valued at $19,375,000 after purchasing an additional 62,000 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Evolv Technologies by 6.3% during the 4th quarter. Northern Trust Corp now owns 1,136,210 shares of the company's stock valued at $4,488,000 after acquiring an additional 67,146 shares during the period. Institutional investors and hedge funds own 66.65% of the company's stock.

Analyst Upgrades and Downgrades

EVLV has been the subject of a number of research reports. Cantor Fitzgerald boosted their target price on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Lake Street Capital upgraded Evolv Technologies from a "hold" rating to a "buy" rating and increased their target price for the company from $5.50 to $9.00 in a research report on Friday, August 15th. TD Cowen reissued a "buy" rating and issued a $10.00 price target on shares of Evolv Technologies in a report on Friday, August 15th. Northland Securities raised shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective on the stock in a report on Wednesday, May 21st. Finally, Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.88.

Evolv Technologies Trading Down 1.0%

NASDAQ EVLV traded down $0.08 during trading hours on Thursday, reaching $7.89. The company had a trading volume of 3,911,285 shares, compared to its average volume of 2,456,962. Evolv Technologies has a 1-year low of $2.04 and a 1-year high of $8.91. The stock has a market capitalization of $1.36 billion, a P/E ratio of -14.35 and a beta of 1.71. The stock has a 50-day moving average of $6.90 and a 200 day moving average of $5.08.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). The company had revenue of $26.68 million for the quarter, compared to analysts' expectations of $30.95 million. Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%. Evolv Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

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.