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

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Evolv Technologies news, insider Anil Chitkara sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 1,200,157 shares in the company, valued at $6,000,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.20% of the company’s stock.

Institutional Investors Weigh In On Evolv Technologies

Several institutional investors have recently made changes to their positions in the company. Hamilton Lane Advisors LLC lifted its holdings in shares of Evolv Technologies by 47.6% in the 1st quarter. Hamilton Lane Advisors LLC now owns 145,039 shares of the company’s stock worth $645,000 after acquiring an additional 46,790 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Evolv Technologies during the 1st quarter valued at about $2,897,000. Price T Rowe Associates Inc. MD lifted its holdings in Evolv Technologies by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,813 shares of the company’s stock valued at $147,000 after buying an additional 5,062 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Evolv Technologies by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after buying an additional 407,396 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its holdings in Evolv Technologies by 49.2% during the 1st quarter. Wealthspire Advisors LLC now owns 18,194 shares of the company’s stock valued at $81,000 after buying an additional 6,003 shares in the last quarter. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Down 2.9 %

Shares of NASDAQ:EVLV opened at $2.38 on Wednesday. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $8.30. The stock has a market capitalization of $371.49 million, a P/E ratio of -3.90 and a beta of 1.27. The firm has a fifty day simple moving average of $3.04 and a two-hundred day simple moving average of $3.94.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. The firm had revenue of $21.67 million during the quarter, compared to analyst estimates of $23.17 million. Evolv Technologies had a negative net margin of 106.93% and a negative return on equity of 45.57%. During the same quarter last year, the business earned ($0.15) EPS. On average, analysts expect that Evolv Technologies will post -0.37 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.