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

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

Evolv Technologies Trading Up 0.7%

EVLV opened at $4.43 on Wednesday. The company has a 50 day moving average of $3.43 and a 200 day moving average of $3.48. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $4.65. The company has a market cap of $724.17 million, a PE ratio of -31.64 and a beta of 1.61.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital lifted their target price on shares of Evolv Technologies from $2.75 to $4.00 and gave the stock a "hold" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Evolv Technologies presently has a consensus rating of "Hold" and an average price target of $5.08.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds have recently made changes to their positions in EVLV. Autumn Glory Partners LLC purchased a new stake in Evolv Technologies during the 4th quarter worth about $40,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Evolv Technologies in the fourth quarter valued at approximately $40,000. Cibc World Markets Corp purchased a new position in Evolv Technologies during the fourth quarter valued at approximately $49,000. Teacher Retirement System of Texas bought a new stake in Evolv Technologies during the 1st quarter worth approximately $50,000. Finally, SouthState Corp lifted its stake in Evolv Technologies by 420.1% in the 1st quarter. SouthState Corp now owns 18,571 shares of the company's stock worth $58,000 after purchasing an additional 15,000 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other 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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