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. Stock traders acquired 5,513 call options on the company. This is an increase of 1,690% compared to the average daily volume of 308 call options.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Foundations Investment Advisors LLC purchased a new stake in Evolv Technologies in the second quarter valued at approximately $30,000. Worth Financial Advisory Group LLC raised its position in shares of Evolv Technologies by 42.0% during the 2nd 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Evolv Technologies during the 3rd quarter worth $44,000. Principal Financial Group Inc. grew its position in Evolv Technologies by 30.5% in the second 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 in the last quarter. Finally, First Bank & Trust bought a new position in Evolv Technologies in the third quarter valued at $52,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Trading Down 9.3 %

Shares of Evolv Technologies stock traded down $0.41 on Wednesday, reaching $4.02. The stock had a trading volume of 1,402,851 shares, compared to its average volume of 1,775,403. The business's 50 day moving average is $3.42 and its two-hundred day moving average is $3.29. The company has a market cap of $633.35 million, a P/E ratio of -28.71 and a beta of 1.66. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73.

Analyst Upgrades and Downgrades

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