Traders Buy High Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

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

Insider Activity at Evolv Technologies

In related news, insider Michael Ellenbogen sold 54,873 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $5.04, for a total value of $276,559.92. Following the completion of the transaction, the insider now directly owns 1,975,473 shares of the company’s stock, valued at $9,956,383.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Anil Chitkara sold 50,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the completion of the transaction, the insider now directly owns 1,200,157 shares of the company’s stock, valued at $6,000,785. The transaction was disclosed in a document filed 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 on Thursday, February 8th. The shares were sold at an average price of $5.04, for a total value of $276,559.92. Following the sale, the insider now directly 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. 10.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVLV. Key Colony Management LLC raised its stake in Evolv Technologies by 64.5% in the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after purchasing an additional 1,795,099 shares in the last quarter. Glenview Capital Management LLC raised its stake in Evolv Technologies by 21.7% in the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after purchasing an additional 1,000,000 shares in the last quarter. Sapient Capital LLC acquired a new position in Evolv Technologies in the fourth quarter valued at about $3,188,000. Nomura Holdings Inc. acquired a new position in Evolv Technologies in the third quarter valued at about $2,138,000. Finally, Axiom Investors LLC DE raised its stake in Evolv Technologies by 92.0% in the fourth quarter. Axiom Investors LLC DE now owns 365,155 shares of the company’s stock valued at $1,724,000 after purchasing an additional 175,000 shares in the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

Analyst Ratings Changes

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

Evolv Technologies Stock Performance

EVLV opened at $3.91 on Wednesday. Evolv Technologies has a fifty-two week low of $3.28 and a fifty-two week high of $8.30. The company has a market capitalization of $608.32 million, a P/E ratio of -5.36 and a beta of 1.35. The stock has a fifty day moving average of $4.09 and a 200-day moving average of $4.30.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share 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 company had revenue of $21.82 million during the quarter, compared to the consensus estimate of $18.81 million. On average, equities research analysts predict that Evolv Technologies will post -0.48 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.