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

Evolv Technologies logo with Computer and Technology background

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) saw some unusual options trading activity on Tuesday. Traders acquired 5,513 call options on the company. This is an increase of 1,690% compared to the typical volume of 308 call options.

Evolv Technologies Price Performance

NASDAQ EVLV opened at $5.91 on Wednesday. The firm has a market capitalization of $969.24 million, a price-to-earnings ratio of -21.11 and a beta of 1.70. The company has a 50 day simple moving average of $5.34 and a 200-day simple moving average of $4.14. Evolv Technologies has a 52-week low of $2.04 and a 52-week high of $6.45.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported ($0.01) 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, analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on EVLV

Hedge Funds Weigh In On Evolv Technologies

A number of institutional investors have recently made changes to their positions in EVLV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Evolv Technologies by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company's stock valued at $296,000 after purchasing an additional 3,276 shares during the period. American Century Companies Inc. increased its holdings in Evolv Technologies by 6.1% in the 1st quarter. American Century Companies Inc. now owns 63,315 shares of the company's stock valued at $198,000 after buying an additional 3,633 shares during the period. Mariner LLC raised its stake in shares of Evolv Technologies by 15.9% in the 4th quarter. Mariner LLC now owns 26,532 shares of the company's stock valued at $105,000 after buying an additional 3,639 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Evolv Technologies by 5.1% during the 1st quarter. MetLife Investment Management LLC now owns 91,042 shares of the company's stock worth $284,000 after acquiring an additional 4,412 shares during the period. Finally, Sapient Capital LLC lifted its holdings in shares of Evolv Technologies by 0.7% during the 1st quarter. Sapient Capital LLC now owns 735,049 shares of the company's stock worth $2,293,000 after acquiring an additional 5,000 shares during the period. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Company Profile

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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