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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of unusually large options trading on Tuesday. Stock investors purchased 5,513 call options on the company. This represents an increase of 1,690% compared to the typical daily volume of 308 call options.

Wall Street Analyst Weigh In

EVLV has been the subject of several analyst reports. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. Lake Street Capital cut their price target on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, TD Cowen lowered shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.60.

Evolv Technologies Price Performance

Evolv Technologies stock opened at $3.92 on Thursday. Evolv Technologies has a one year low of $2.01 and a one year high of $5.28. The company’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $3.64. The company has a market capitalization of $617.60 million, a price-to-earnings ratio of -28.00 and a beta of 1.66.

Institutional Investors Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVLV. Vanguard Group Inc. lifted its stake in shares of Evolv Technologies by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,925,592 shares of the company’s stock worth $35,256,000 after buying an additional 238,963 shares during the last quarter. Edge Capital Group LLC lifted its position in Evolv Technologies by 0.8% during the 4th quarter. Edge Capital Group LLC now owns 4,835,206 shares of the company’s stock worth $19,099,000 after acquiring an additional 36,400 shares during the last quarter. Marshall Wace LLP boosted its holdings in Evolv Technologies by 317.1% during the fourth quarter. Marshall Wace LLP now owns 3,275,025 shares of the company’s stock valued at $12,936,000 after acquiring an additional 2,489,825 shares during the period. CenterBook Partners LP boosted its holdings in Evolv Technologies by 15.0% during the fourth quarter. CenterBook Partners LP now owns 3,008,643 shares of the company’s stock valued at $11,884,000 after acquiring an additional 393,563 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Evolv Technologies by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,856,173 shares of the company’s stock worth $11,284,000 after purchasing an additional 35,426 shares during the period. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.