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

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

Institutional Investors Weigh In On Evolv Technologies

Large investors have recently made changes to their positions in the stock. Foundations Investment Advisors LLC bought a new stake in shares of Evolv Technologies during the 2nd quarter worth approximately $30,000. Worth Financial Advisory Group LLC grew its holdings in Evolv Technologies by 42.0% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after buying an additional 4,435 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Evolv Technologies in the third quarter valued at approximately $44,000. Principal Financial Group Inc. increased its stake in Evolv Technologies by 30.5% during the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after acquiring an additional 4,127 shares during the period. Finally, First Bank & Trust acquired a new position in Evolv Technologies in the 3rd quarter valued at $52,000. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Price Performance

EVLV opened at $4.43 on Wednesday. The company’s 50 day simple moving average is $3.42 and its 200-day simple moving average is $3.29. Evolv Technologies has a one year low of $2.01 and a one year high of $5.73. The stock has a market capitalization of $697.95 million, a P/E ratio of -31.64 and a beta of 1.66.

Analyst Upgrades and Downgrades

EVLV has been the subject of several recent research reports. Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Lake Street Capital dropped their price target on shares of 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 cut Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Finally, Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Evolv Technologies has an average rating of “Hold” and an average target price of $5.60.

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.