Evolv Technologies Target of Unusually High Options Trading (NASDAQ:EVLV)

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

Institutional Investors Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Evolv Technologies by 2,428.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company's stock valued at $6,036,000 after purchasing an additional 1,467,538 shares during the period. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 238,963 shares during the period. MIG Capital LLC bought a new stake in shares of Evolv Technologies in the 4th quarter valued at about $375,000. Dimensional Fund Advisors LP bought a new position in Evolv Technologies in the 4th quarter valued at about $899,000. Finally, Barclays PLC raised its holdings in Evolv Technologies by 352.3% in the 3rd quarter. Barclays PLC now owns 211,551 shares of the company's stock valued at $856,000 after acquiring an additional 164,775 shares during the period. 66.65% of the stock is owned by institutional investors.

Evolv Technologies Stock Up 5.1%

Shares of EVLV stock traded up $0.28 on Monday, reaching $5.74. The stock had a trading volume of 6,579,876 shares, compared to its average volume of 1,851,848. The firm's 50-day moving average is $3.58 and its two-hundred day moving average is $3.56. The firm has a market capitalization of $938.32 million, a price-to-earnings ratio of -41.00 and a beta of 1.61. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $5.89.

Analysts Set New Price Targets

Separately, Lake Street Capital increased their price objective on shares of Evolv Technologies from $2.75 to $4.00 and gave the stock a "hold" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Evolv Technologies currently has a consensus rating of "Hold" and a consensus price target of $5.08.

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.