Evolv Technologies Sees Unusually Large Options Volume (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw some unusual options trading activity on Tuesday. Investors purchased 5,513 call options on the stock. This is an increase of 1,690% compared to the typical daily volume of 308 call options.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in shares of Evolv Technologies by 12.9% during the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock worth $78,000 after purchasing an additional 3,490 shares in the last quarter. Principal Financial Group Inc. raised its stake in Evolv Technologies by 30.5% during the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after buying an additional 4,127 shares during the period. MetLife Investment Management LLC boosted its holdings in Evolv Technologies by 7.1% in the third quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock worth $312,000 after acquiring an additional 5,090 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Evolv Technologies by 50.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after purchasing an additional 5,100 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of Evolv Technologies by 3.1% in the third quarter. HighTower Advisors LLC now owns 202,680 shares of the company’s stock valued at $820,000 after buying an additional 6,183 shares in the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Evolv Technologies Trading Up 4.3 %

EVLV stock opened at $3.91 on Wednesday. Evolv Technologies has a 1-year low of $2.01 and a 1-year high of $5.73. The stock has a 50-day moving average price of $3.39 and a 200-day moving average price of $3.36. The firm has a market cap of $616.02 million, a PE ratio of -27.93 and a beta of 1.67.

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.