Traders Buy Large Volume of Call Options on Evolv Technologies (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 5,513 call options on the stock. This represents an increase of approximately 1,690% compared to the typical volume of 308 call options.

Institutional Investors Weigh In On Evolv Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of EVLV. Barclays PLC grew its position in shares of Evolv Technologies by 352.3% in the third quarter. Barclays PLC now owns 211,551 shares of the company's stock valued at $856,000 after purchasing an additional 164,775 shares during the period. Geode Capital Management LLC increased its position in Evolv Technologies by 14.4% during the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company's stock worth $11,426,000 after purchasing an additional 355,611 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Evolv Technologies by 159.4% in the 3rd quarter. GSA Capital Partners LLP now owns 884,224 shares of the company's stock valued at $3,581,000 after purchasing an additional 543,322 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Evolv Technologies by 20.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company's stock worth $3,743,000 after buying an additional 158,877 shares during the period. Finally, Key Colony Management LLC grew its position in Evolv Technologies by 12.1% during the third 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on EVLV. Northland Capmk lowered shares of Evolv Technologies from a "strong-buy" rating to a "hold" 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. Northland Securities downgraded shares of Evolv Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, October 28th. Finally, Lake Street Capital lowered their price target on Evolv Technologies from $3.50 to $2.75 and set a "hold" rating on the stock in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.60.

Evolv Technologies Price Performance

Shares of NASDAQ EVLV traded down $0.12 on Friday, hitting $4.04. The company's stock had a trading volume of 851,130 shares, compared to its average volume of 1,622,291. The stock has a 50 day moving average of $3.81 and a 200-day moving average of $3.61. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $5.73. The company has a market capitalization of $636.50 million, a price-to-earnings ratio of -28.86 and a beta of 1.66.

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.