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

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

Evolv Technologies Stock Up 2.4 %

EVLV stock opened at $3.44 on Wednesday. The company has a market capitalization of $541.97 million, a P/E ratio of -24.57 and a beta of 1.34. The company has a 50-day simple moving average of $3.43 and a 200 day simple moving average of $3.18. Evolv Technologies has a fifty-two week low of $2.01 and a fifty-two week high of $5.73.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Evolv Technologies

Several large investors have recently modified their holdings of EVLV. Foundations Investment Advisors LLC acquired a new position in Evolv Technologies in the 2nd quarter worth about $30,000. Worth Financial Advisory Group LLC lifted its stake in Evolv Technologies by 42.0% in the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after acquiring an additional 4,435 shares during the last quarter. SG Americas Securities LLC bought a new stake in Evolv Technologies in the third quarter worth approximately $44,000. Principal Financial Group Inc. increased its stake in shares of 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 purchasing an additional 4,127 shares during the last quarter. Finally, First Bank & Trust bought a new position in shares of Evolv Technologies during the 3rd quarter valued at $52,000. 66.65% of the stock is owned by institutional investors.

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.