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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors bought 5,513 call options on the company. This represents an increase of approximately 1,690% compared to the typical volume of 308 call options.

Institutional Investors Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in Evolv Technologies by 12.9% during the 2nd 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 in the last quarter. Principal Financial Group Inc. increased its stake in shares of 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 purchasing an additional 4,127 shares in the last quarter. JPMorgan Chase & Co. increased 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 in the last quarter. MetLife Investment Management LLC raised its position in shares of Evolv Technologies by 7.1% during the 3rd quarter. MetLife Investment Management LLC now owns 77,055 shares of the company's stock worth $312,000 after purchasing an additional 5,090 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake 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 buying an additional 5,100 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Price Performance

EVLV traded down $0.26 during trading on Wednesday, reaching $3.25. 1,996,008 shares of the stock were exchanged, compared to its average volume of 1,729,202. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73. The company has a market capitalization of $512.04 million, a price-to-earnings ratio of -23.21 and a beta of 1.66. The business's 50 day moving average price is $3.45 and its two-hundred day moving average price is $3.47.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EVLV shares. Northland Capmk downgraded Evolv Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Northland Securities cut Evolv Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, October 28th. 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. Finally, Lake Street Capital cut their price target 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $5.60.

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.