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

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

Analysts Set New Price Targets

Separately, Northland Securities decreased their price objective on shares of 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $5.75.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EVLV. MCF Advisors LLC increased its stake in shares of Evolv Technologies by 84.5% during the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company's stock valued at $29,000 after acquiring an additional 3,000 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Evolv Technologies during the first quarter worth approximately $45,000. Foundations Investment Advisors LLC acquired a new position in Evolv Technologies during the second quarter worth approximately $30,000. Sierra Summit Advisors LLC purchased a new position in Evolv Technologies during the fourth quarter worth approximately $71,000. Finally, Worth Financial Advisory Group LLC boosted its holdings in shares of Evolv Technologies by 42.0% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company's stock valued at $38,000 after purchasing an additional 4,435 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Evolv Technologies Trading Up 2.1 %

Shares of NASDAQ EVLV traded up $0.08 during trading on Wednesday, reaching $3.90. The company had a trading volume of 717,118 shares, compared to its average volume of 1,526,916. The stock has a market capitalization of $608.74 million, a PE ratio of -6.26 and a beta of 1.25. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $5.73. The stock has a 50-day moving average price of $3.70 and a two-hundred day moving average price of $3.41.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.15. The business had revenue of $25.54 million during the quarter, compared to the consensus estimate of $23.57 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. On average, sell-side analysts predict that Evolv Technologies will post -0.26 EPS for the current year.

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.