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

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen downgraded Evolv Technologies from a "strong-buy" rating to a "strong sell" rating in a report on Monday, October 28th. Lake Street Capital cut their price target on shares of Evolv Technologies from $3.50 to $2.75 and set a "hold" rating on the stock in a report on Monday, October 28th. Northland Capmk cut shares of Evolv Technologies from a "strong-buy" rating to a "hold" 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 report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.60.

Institutional Trading of Evolv Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Evolv Technologies in the third quarter valued at approximately $44,000. Foundations Investment Advisors LLC acquired a new stake in Evolv Technologies in the 2nd quarter worth $30,000. First Bank & Trust bought a new position in shares of Evolv Technologies during the 3rd quarter worth about $52,000. Worth Financial Advisory Group LLC raised its position in shares of Evolv Technologies by 42.0% during the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company's stock valued at $38,000 after buying an additional 4,435 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Evolv Technologies by 50.5% in the third 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 during the period. Institutional investors and hedge funds own 66.65% of the company's stock.

Evolv Technologies Trading Up 13.8 %

Evolv Technologies stock traded up $0.48 on Wednesday, reaching $3.92. 3,155,625 shares of the stock were exchanged, compared to its average volume of 1,764,769. The stock has a market cap of $616.81 million, a PE ratio of -27.36 and a beta of 1.34. The firm has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $3.19. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $5.73.

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.