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

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

Evolv Technologies Stock Up 4.3 %

Shares of EVLV stock traded up $0.16 on Wednesday, reaching $3.91. The stock had a trading volume of 562,410 shares, compared to its average volume of 1,761,931. Evolv Technologies has a 12 month low of $2.01 and a 12 month high of $5.73. The firm has a market capitalization of $616.02 million, a price-to-earnings ratio of -27.93 and a beta of 1.67. The firm's 50-day moving average is $3.39 and its two-hundred day moving average is $3.37.

Institutional Trading of Evolv Technologies

A number of hedge funds have recently made changes to their positions in the business. Resolute Capital Asset Partners LLC acquired a new stake in Evolv Technologies during the 2nd quarter valued at $510,000. Ironwood Investment Management LLC acquired a new stake in shares of Evolv Technologies during the 2nd quarter worth about $724,000. GSA Capital Partners LLP boosted its holdings in shares of Evolv Technologies by 159.4% during the 3rd quarter. GSA Capital Partners LLP now owns 884,224 shares of the company's stock worth $3,581,000 after buying an additional 543,322 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Evolv Technologies by 20.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company's stock valued at $3,743,000 after buying an additional 158,877 shares during the last quarter. Finally, Key Colony Management LLC raised its holdings 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 valued at $20,499,000 after acquiring an additional 545,492 shares during the period. 66.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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