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

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

Evolv Technologies Price Performance

NASDAQ:EVLV opened at $3.51 on Wednesday. The firm has a market capitalization of $553.00 million, a price-to-earnings ratio of -25.07 and a beta of 1.66. The business has a 50 day simple moving average of $3.43 and a 200-day simple moving average of $3.48. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73.

Institutional Trading of Evolv Technologies

A number of institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its position in Evolv Technologies by 12.9% during the second quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock valued at $78,000 after acquiring an additional 3,490 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Evolv Technologies by 30.5% in the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after acquiring an additional 4,127 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Evolv Technologies by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock worth $245,000 after purchasing an additional 4,756 shares during the period. MetLife Investment Management LLC grew its holdings in Evolv Technologies by 7.1% during the 3rd quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock valued at $312,000 after purchasing an additional 5,090 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised 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 worth $62,000 after purchasing an additional 5,100 shares during the period. 66.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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