Evolv Technologies Sees Unusually Large Options Volume (NASDAQ:EVLV)

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

Insider Buying and Selling at Evolv Technologies

In other Evolv Technologies news, insider Anil Chitkara sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $5.00, for a total value of $250,000.00. Following the sale, the insider now owns 1,200,157 shares of the company’s stock, valued at approximately $6,000,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Anil Chitkara sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now owns 1,200,157 shares in the company, valued at approximately $6,000,785. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Ellenbogen sold 54,873 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $5.04, for a total value of $276,559.92. Following the transaction, the insider now owns 1,975,473 shares of the company’s stock, valued at approximately $9,956,383.92. The disclosure for this sale can be found here. Insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Evolv Technologies

Institutional investors have recently made changes to their positions in the stock. Sapient Capital LLC bought a new position in Evolv Technologies during the fourth quarter worth about $3,188,000. HighTower Advisors LLC lifted its holdings in Evolv Technologies by 1.5% during the third quarter. HighTower Advisors LLC now owns 171,397 shares of the company’s stock worth $833,000 after acquiring an additional 2,489 shares in the last quarter. Nomura Holdings Inc. bought a new position in Evolv Technologies during the third quarter worth about $2,138,000. Key Colony Management LLC lifted its holdings in Evolv Technologies by 157.8% during the fourth quarter. Key Colony Management LLC now owns 2,781,928 shares of the company’s stock worth $13,131,000 after acquiring an additional 1,702,928 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in Evolv Technologies by 53.8% during the fourth quarter. Quent Capital LLC now owns 20,000 shares of the company’s stock worth $94,000 after acquiring an additional 7,000 shares in the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price target on shares of Evolv Technologies in a report on Thursday, March 28th.

Evolv Technologies Stock Down 2.3 %

Shares of Evolv Technologies stock opened at $3.85 on Thursday. Evolv Technologies has a 12 month low of $2.96 and a 12 month high of $8.30. The business has a fifty day simple moving average of $4.29 and a 200 day simple moving average of $4.33. The stock has a market cap of $585.89 million, a PE ratio of -5.27 and a beta of 1.35.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Evolv Technologies had a negative return on equity of 47.56% and a negative net margin of 132.13%. The business had revenue of $21.82 million during the quarter, compared to analysts’ expectations of $18.81 million. Analysts expect that Evolv Technologies will post -0.48 EPS for the current fiscal year.

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.