Investors Buy Large Volume of Call Options on Evolv Technologies (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLVGet Free Report) was the target 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 typical daily volume of 308 call options.

Evolv Technologies Trading Down 1.6 %

Evolv Technologies stock opened at $2.49 on Thursday. Evolv Technologies has a 12 month low of $2.01 and a 12 month high of $8.30. The stock’s 50 day moving average is $2.71 and its 200-day moving average is $3.78. The company has a market capitalization of $388.66 million, a price-to-earnings ratio of -4.08 and a beta of 1.24.

Evolv Technologies (NASDAQ:EVLVGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.06. Evolv Technologies had a negative return on equity of 45.57% and a negative net margin of 106.93%. The company had revenue of $21.67 million for the quarter, compared to the consensus estimate of $23.17 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, equities research analysts predict that Evolv Technologies will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently made changes to their positions in EVLV. MCF Advisors LLC boosted its stake in shares of Evolv Technologies by 84.5% in the first quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock valued at $29,000 after buying an additional 3,000 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Evolv Technologies in the first quarter valued at approximately $45,000. Worth Financial Advisory Group LLC bought a new stake in shares of Evolv Technologies in the fourth quarter valued at approximately $50,000. Worth Venture Partners LLC bought a new stake in shares of Evolv Technologies in the fourth quarter valued at approximately $53,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Evolv Technologies by 26.2% in the fourth quarter. Victory Capital Management Inc. now owns 12,682 shares of the company’s stock valued at $60,000 after buying an additional 2,629 shares during the period. Institutional investors and hedge funds own 66.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EVLV shares. Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 price target on shares of Evolv Technologies in a research report on Thursday, March 28th. TD Cowen lowered their price target on Evolv Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Craig Hallum started coverage on Evolv Technologies in a research report on Monday, May 20th. They set a “buy” rating and a $5.75 price target on the stock. Finally, Lake Street Capital downgraded Evolv Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $6.00 to $3.50 in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.65.

Check Out Our Latest Report on EVLV

Evolv Technologies Company Profile

(Get Free Report)

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.

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