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

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CW Advisors LLC acquired a new position in shares of Evolv Technologies in the 1st quarter valued at $33,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Evolv Technologies in the fourth quarter valued at about $40,000. Cibc World Markets Corp purchased a new position in shares of Evolv Technologies in the fourth quarter worth about $49,000. Teacher Retirement System of Texas acquired a new stake in shares of Evolv Technologies during the first quarter worth about $50,000. Finally, PDT Partners LLC purchased a new stake in Evolv Technologies in the first quarter valued at approximately $57,000. Hedge funds and other institutional investors own 66.65% of the company's stock.

Analyst Ratings Changes

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

Evolv Technologies Price Performance

NASDAQ EVLV traded down $0.11 on Thursday, hitting $5.85. The stock had a trading volume of 2,735,380 shares, compared to its average volume of 2,134,401. Evolv Technologies has a 52-week low of $2.04 and a 52-week high of $6.45. The business's fifty day moving average price is $5.40 and its 200 day moving average price is $4.16. The stock has a market cap of $959.40 million, a price-to-earnings ratio of -20.89 and a beta of 1.70.

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 for the quarter, topping the consensus estimate 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 business had revenue of $32.01 million during the quarter, compared to the consensus estimate of $26.40 million. As a group, sell-side analysts anticipate that Evolv Technologies will post -0.27 EPS 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.