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

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

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors have recently made changes to their positions in the stock. Autumn Glory Partners LLC bought a new stake in shares of Evolv Technologies in the 4th quarter worth approximately $40,000. SG Americas Securities LLC acquired a new stake in Evolv Technologies in the third quarter worth $44,000. First Bank & Trust bought a new stake in Evolv Technologies in the third quarter valued at $52,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Evolv Technologies by 50.5% during the third quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after acquiring an additional 5,100 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Evolv Technologies during the third quarter worth about $63,000. 66.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EVLV shares. Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. TD Cowen downgraded shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. Lake Street Capital reduced 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. Finally, Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.60.

Evolv Technologies Stock Performance

NASDAQ EVLV opened at $4.23 on Wednesday. The firm has a market capitalization of $666.44 million, a PE ratio of -30.21 and a beta of 1.66. Evolv Technologies has a one year low of $2.01 and a one year high of $5.73. The company has a 50-day simple moving average of $3.80 and a 200-day simple moving average of $3.60.

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.