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

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.

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

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.

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