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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw some unusual options trading on Tuesday. Stock investors acquired 11,709 put options on the stock. This represents an increase of 504% compared to the typical volume of 1,938 put options.

Analyst Ratings Changes

Several brokerages recently weighed in on EVLV. TD Cowen cut 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. Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. Finally, Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.60.

Evolv Technologies Stock Performance

NASDAQ EVLV opened at $3.44 on Wednesday. Evolv Technologies has a fifty-two week low of $2.01 and a fifty-two week high of $5.73. The stock has a 50 day simple moving average of $3.43 and a two-hundred day simple moving average of $3.18. The stock has a market cap of $541.97 million, a P/E ratio of -24.57 and a beta of 1.34.

Institutional Inflows and Outflows

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

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.