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

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

Evolv Technologies Stock Down 5.7 %

Shares of NASDAQ EVLV opened at $3.82 on Wednesday. The firm has a market cap of $596.25 million, a price-to-earnings ratio of -6.26 and a beta of 1.25. The company’s 50-day simple moving average is $3.70 and its 200-day simple moving average is $3.41. Evolv Technologies has a 52-week low of $2.01 and a 52-week high of $5.73.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.15. The company had revenue of $25.54 million during the quarter, compared to analyst estimates of $23.57 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. Equities research analysts anticipate that Evolv Technologies will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Northland Securities dropped their price objective on shares of Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating on the stock in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Resolute Capital Asset Partners LLC purchased a new stake in shares of Evolv Technologies during the second quarter worth $510,000. Key Colony Management LLC boosted its position in Evolv Technologies by 64.5% during the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock worth $20,368,000 after acquiring an additional 1,795,099 shares during the last quarter. Ironwood Investment Management LLC acquired a new position in Evolv Technologies during the second quarter worth about $724,000. Glenview Capital Management LLC grew its stake in Evolv Technologies by 21.7% during the 4th quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after acquiring an additional 1,000,000 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its holdings in Evolv Technologies by 49.2% in the 1st quarter. Wealthspire Advisors LLC now owns 18,194 shares of the company’s stock valued at $81,000 after acquiring an additional 6,003 shares during the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

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.