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

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

Institutional Investors Weigh In On Evolv Technologies

Hedge funds have recently added to or reduced their stakes in the business. Key Colony Management LLC increased its holdings in shares of Evolv Technologies by 64.5% during the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after acquiring an additional 1,795,099 shares in the last quarter. Glenview Capital Management LLC increased its holdings in shares of Evolv Technologies by 21.7% during the fourth 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. Silvercrest Asset Management Group LLC bought a new stake in shares of Evolv Technologies during the first quarter valued at approximately $2,897,000. Vanguard Group Inc. increased its holdings in shares of Evolv Technologies by 6.0% during the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after acquiring an additional 407,396 shares in the last quarter. Finally, Ironwood Investment Management LLC bought a new stake in shares of Evolv Technologies during the second quarter valued at approximately $724,000. 66.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Evolv Technologies Stock Down 1.2 %

NASDAQ:EVLV opened at $4.14 on Wednesday. The stock’s 50-day simple moving average is $3.46 and its 200 day simple moving average is $3.38. The firm has a market capitalization of $646.20 million, a PE ratio of -6.79 and a beta of 1.25. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $5.73.

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