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

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

Evolv Technologies Stock Performance

EVLV opened at $4.43 on Wednesday. The company has a market capitalization of $697.95 million, a PE ratio of -31.64 and a beta of 1.66. The stock’s fifty day moving average is $3.42 and its 200-day moving average is $3.29. Evolv Technologies has a one year low of $2.01 and a one year high of $5.73.

Institutional Investors Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Resolute Capital Asset Partners LLC acquired a new stake in shares of Evolv Technologies during the 2nd quarter valued at $510,000. Ironwood Investment Management LLC purchased a new stake in shares of Evolv Technologies during the second quarter valued at $724,000. GSA Capital Partners LLP boosted its position in shares of Evolv Technologies by 159.4% in the 3rd quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock valued at $3,581,000 after purchasing an additional 543,322 shares during the period. Key Colony Management LLC increased its stake in Evolv Technologies by 12.1% in the 3rd quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after purchasing an additional 545,492 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Evolv Technologies during the 3rd quarter worth about $1,614,000. 66.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EVLV shares. Lake Street Capital dropped their price objective on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research note on Monday, October 28th. TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Evolv Technologies has an average rating of “Hold” and a consensus target price of $5.60.

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.