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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) saw some unusual options trading on Tuesday. Stock traders bought 5,513 call options on the stock. This is an increase of 1,690% compared to the average daily volume of 308 call options.

Analysts Set New Price Targets

EVLV has been the subject of several research reports. Cantor Fitzgerald raised Evolv Technologies to a "strong-buy" rating in a research note on Wednesday, May 21st. Lake Street Capital lifted their price objective on Evolv Technologies from $4.00 to $5.50 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Northland Capmk raised Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Northland Securities raised Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective for the company in a research note on Wednesday, May 21st. Finally, Wall Street Zen raised Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Evolv Technologies has an average rating of "Moderate Buy" and a consensus target price of $6.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in Evolv Technologies by 2,428.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company's stock valued at $6,036,000 after acquiring an additional 1,467,538 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Evolv Technologies in the 4th quarter valued at approximately $899,000. Vanguard Group Inc. raised its position in Evolv Technologies by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company's stock valued at $35,256,000 after buying an additional 238,963 shares during the last quarter. MIG Capital LLC acquired a new stake in Evolv Technologies in the 4th quarter valued at approximately $375,000. Finally, Northern Trust Corp raised its position in Evolv Technologies by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,136,210 shares of the company's stock valued at $4,488,000 after buying an additional 67,146 shares during the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

Evolv Technologies Stock Down 3.9%

NASDAQ:EVLV traded down $0.23 on Friday, reaching $5.62. The company's stock had a trading volume of 1,378,174 shares, compared to its average volume of 2,137,353. Evolv Technologies has a 1-year low of $2.04 and a 1-year high of $6.45. The business's 50-day moving average price is $5.43 and its two-hundred day moving average price is $4.18.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.07. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. The firm had revenue of $32.01 million during the quarter, compared to analysts' expectations of $26.40 million. As a group, equities analysts expect that Evolv Technologies will post -0.27 earnings per share for the current year.

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.