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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of some unusual options trading on Tuesday. Stock traders acquired 5,513 call options on the stock. This represents an increase of approximately 1,690% compared to the average volume of 308 call options.

Evolv Technologies Price Performance

Shares of NASDAQ EVLV opened at $4.02 on Thursday. The company has a market capitalization of $633.35 million, a price-to-earnings ratio of -28.71 and a beta of 1.66. The business has a 50-day moving average of $3.42 and a two-hundred day moving average of $3.29. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73.

Analyst Ratings Changes

A number of equities analysts recently commented on EVLV shares. Lake Street Capital reduced their price objective on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research report on Monday, October 28th. TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.60.

Institutional Trading of Evolv Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Evolv Technologies during the 3rd quarter worth approximately $44,000. Foundations Investment Advisors LLC acquired a new position in Evolv Technologies during the 2nd quarter worth approximately $30,000. First Bank & Trust acquired a new position in Evolv Technologies during the 3rd quarter worth approximately $52,000. Worth Financial Advisory Group LLC increased its position in Evolv Technologies by 42.0% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock worth $38,000 after purchasing an additional 4,435 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after purchasing an additional 5,100 shares during the period. 66.65% of the stock is owned by hedge funds and other institutional investors.

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.