Stock Traders Buy High Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EVLV. Cantor Fitzgerald upgraded Evolv Technologies to a "strong-buy" rating in a report on Wednesday, May 21st. Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective for the company in a report on Wednesday, May 21st. Northland Capmk upgraded Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Wall Street Zen upgraded Evolv Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Lake Street Capital lifted their price target on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating 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 given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $6.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EVLV. Bank of New York Mellon Corp raised its position in Evolv Technologies by 4.0% during the fourth quarter. Bank of New York Mellon Corp now owns 360,420 shares of the company's stock valued at $1,424,000 after purchasing an additional 13,870 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Evolv Technologies by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,520 shares of the company's stock valued at $3,849,000 after purchasing an additional 50,367 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Evolv Technologies during the fourth quarter valued at approximately $84,000. Clare Market Investments LLC acquired a new position in Evolv Technologies during the fourth quarter valued at approximately $71,000. Finally, Avantax Advisory Services Inc. acquired a new position in Evolv Technologies during the fourth quarter valued at approximately $82,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Evolv Technologies Stock Performance

Shares of EVLV stock traded up $0.05 during trading on Wednesday, hitting $5.96. The company had a trading volume of 1,460,689 shares, compared to its average volume of 2,121,004. The firm has a market capitalization of $977.44 million, a P/E ratio of -21.28 and a beta of 1.70. The stock's 50-day moving average price is $5.34 and its 200 day moving average price is $4.14. Evolv Technologies has a one year low of $2.04 and a one year high of $6.45.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.07. The business had revenue of $32.01 million during the quarter, compared to analysts' expectations of $26.40 million. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. On average, research analysts anticipate that Evolv Technologies will post -0.27 earnings per share for the current fiscal 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.