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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw unusually large options trading activity on Tuesday. Investors purchased 5,513 call options on the company. This represents an increase of approximately 1,690% compared to the average volume of 308 call options.

Insider Buying and Selling

In other news, major shareholder Gates Frontier, Llc sold 776,236 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total value of $6,365,135.20. Following the transaction, the insider owned 17,189,096 shares in the company, valued at approximately $140,950,587.20. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Ellenbogen sold 80,745 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $8.26, for a total transaction of $666,953.70. Following the sale, the director owned 2,083,961 shares in the company, valued at approximately $17,213,517.86. The trade was a 3.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,911,445 shares of company stock worth $15,560,635 in the last quarter. Corporate insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new position in Evolv Technologies in the third quarter worth approximately $60,000. CW Advisors LLC bought a new position in Evolv Technologies in the first quarter worth approximately $33,000. Farther Finance Advisors LLC raised its position in Evolv Technologies by 214.8% in the third quarter. Farther Finance Advisors LLC now owns 12,304 shares of the company’s stock worth $93,000 after acquiring an additional 8,396 shares during the period. BNP Paribas Financial Markets raised its position in Evolv Technologies by 38.3% in the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company’s stock worth $81,000 after acquiring an additional 3,596 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Evolv Technologies during the 2nd quarter valued at $94,000. 66.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on EVLV. Zacks Research upgraded shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. TD Cowen reiterated a “buy” rating and set a $10.00 price target on shares of Evolv Technologies in a report on Friday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evolv Technologies in a report on Wednesday, October 8th. Cantor Fitzgerald increased their price target on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, August 15th. Finally, Lake Street Capital upgraded shares of Evolv Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $5.50 to $9.00 in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.88.

Evolv Technologies Trading Up 1.0%

Shares of EVLV stock opened at $8.15 on Wednesday. Evolv Technologies has a 12-month low of $2.04 and a 12-month high of $8.91. The stock has a market capitalization of $1.40 billion, a P/E ratio of -14.82 and a beta of 1.69. The firm’s 50 day moving average is $8.07 and its 200 day moving average is $6.41.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly 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 during the quarter, compared to the consensus estimate of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Evolv Technologies will post -0.27 earnings per share for the current 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.