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

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

Analysts Set New Price Targets

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

Evolv Technologies Price Performance

Shares of Evolv Technologies stock opened at $3.91 on Wednesday. Evolv Technologies has a 1-year low of $2.01 and a 1-year high of $5.73. The company has a market capitalization of $616.02 million, a P/E ratio of -27.93 and a beta of 1.67. The business’s fifty day moving average price is $3.39 and its two-hundred day moving average price is $3.36.

Institutional Investors Weigh In On Evolv Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVLV. Foundations Investment Advisors LLC acquired a new stake in shares of Evolv Technologies in the second quarter valued at about $30,000. SG Americas Securities LLC bought a new position in Evolv Technologies during the third quarter worth $44,000. Principal Financial Group Inc. grew its position in Evolv Technologies by 30.5% in the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after purchasing an additional 4,127 shares during the last quarter. First Bank & Trust bought a new position in shares of Evolv Technologies during the 3rd quarter worth about $52,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Evolv Technologies by 50.5% in the third quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after buying an additional 5,100 shares during the period. Hedge funds and other institutional investors own 66.65% of the company’s stock.

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.