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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of unusually large options trading on Tuesday. Investors acquired 5,513 call options on the company. Thisisanincreaseofapproximately1,690% compared to the typical daily volume of 308 call options.

Evolv Technologies Trading Down 2.1%

Shares of EVLV stock opened at $7.97 on Thursday. The stock has a 50 day simple moving average of $6.90 and a 200 day simple moving average of $5.08. Evolv Technologies has a 1 year low of $2.04 and a 1 year high of $8.91. The stock has a market cap of $1.37 billion, a P/E ratio of -14.49 and a beta of 1.71.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%.The business had revenue of $26.68 million for the quarter, compared to the consensus estimate of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. Analysts forecast that Evolv Technologies will post -0.27 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EVLV. Northland Capmk upgraded Evolv Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Northland Securities upgraded Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a report on Wednesday, May 21st. Cantor Fitzgerald boosted their price objective on Evolv Technologies from $7.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, August 15th. Zacks Research cut Evolv Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 27th. Finally, Wall Street Zen upgraded Evolv Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.88.

Institutional Investors Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVLV. Wells Fargo & Company MN lifted its stake in Evolv Technologies by 43.7% during the fourth quarter. Wells Fargo & Company MN now owns 89,767 shares of the company’s stock worth $355,000 after purchasing an additional 27,299 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Evolv Technologies during the fourth quarter worth $84,000. Barclays PLC lifted its stake in Evolv Technologies by 10.1% during the fourth quarter. Barclays PLC now owns 232,887 shares of the company’s stock worth $920,000 after purchasing an additional 21,336 shares during the last quarter. Mariner LLC lifted its stake in Evolv Technologies by 15.9% during the fourth quarter. Mariner LLC now owns 26,532 shares of the company’s stock worth $105,000 after purchasing an additional 3,639 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in Evolv Technologies during the fourth quarter worth $899,000. 66.65% of the stock is currently owned by institutional investors.

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.