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

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

Analyst Ratings Changes

Separately, Northland Securities cut their price objective on shares of Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.75.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EVLV. Key Colony Management LLC grew its holdings in Evolv Technologies by 64.5% during the 1st quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after buying an additional 1,795,099 shares in the last quarter. Glenview Capital Management LLC boosted its position in shares of Evolv Technologies by 21.7% during the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock worth $26,427,000 after acquiring an additional 1,000,000 shares during the last quarter. Wealthspire Advisors LLC grew its stake in Evolv Technologies by 49.2% during the first quarter. Wealthspire Advisors LLC now owns 18,194 shares of the company’s stock valued at $81,000 after acquiring an additional 6,003 shares in the last quarter. Vanguard Group Inc. increased its holdings in Evolv Technologies by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after acquiring an additional 407,396 shares during the last quarter. Finally, Sierra Summit Advisors LLC purchased a new stake in Evolv Technologies in the 4th quarter worth $71,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Price Performance

Shares of EVLV stock opened at $4.13 on Thursday. The company has a market capitalization of $644.64 million, a price-to-earnings ratio of -6.77 and a beta of 1.25. The company’s fifty day moving average price is $3.49 and its 200-day moving average price is $3.38. Evolv Technologies has a one year low of $2.01 and a one year high of $5.73.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.15. The business had revenue of $25.54 million for the quarter, compared to the consensus estimate of $23.57 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. Equities research analysts expect that Evolv Technologies will post -0.26 earnings per share for the current fiscal year.

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.