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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 5,513 call options on the company. This represents an increase of approximately 1,690% compared to the average daily volume of 308 call options.

Evolv Technologies Price Performance

EVLV opened at $3.51 on Wednesday. The company has a market capitalization of $553.00 million, a price-to-earnings ratio of -25.07 and a beta of 1.66. The business’s 50-day moving average price is $3.43 and its two-hundred day moving average price is $3.48. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73.

Institutional Investors Weigh In On Evolv Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Evolv Technologies by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock valued at $245,000 after buying an additional 4,756 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Evolv Technologies in the third quarter valued at about $63,000. Barclays PLC raised its holdings in Evolv Technologies by 352.3% during the third quarter. Barclays PLC now owns 211,551 shares of the company’s stock worth $856,000 after acquiring an additional 164,775 shares in the last quarter. Geode Capital Management LLC boosted its position in Evolv Technologies by 14.4% during the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after purchasing an additional 355,611 shares during the last quarter. Finally, Wexford Capital LP bought a new position in Evolv Technologies in the third quarter valued at approximately $810,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EVLV. Lake Street Capital decreased their price target on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a report on Monday, October 28th. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a 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 lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.