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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of some unusual options trading activity on Tuesday. Stock investors bought 5,513 call options on the stock. This is an increase of approximately 1,690% compared to the average daily volume of 308 call options.

Wall Street Analysts Forecast Growth

EVLV has been the topic of several research analyst reports. Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Lake Street Capital lowered their price target 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 shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, TD Cowen lowered shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” 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 assigned a buy rating to the stock. Based on data from MarketBeat, Evolv Technologies currently has a consensus rating of “Hold” and an average price target of $5.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVLV. Silvercrest Asset Management Group LLC bought a new position in Evolv Technologies in the first quarter valued at approximately $2,897,000. Key Colony Management LLC grew its stake in shares of Evolv Technologies by 12.1% in the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after buying an additional 545,492 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Evolv Technologies by 159.4% during the third 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 last quarter. Vanguard Group Inc. raised its position in Evolv Technologies by 6.0% during the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock worth $32,013,000 after acquiring an additional 407,396 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Evolv Technologies in the third quarter valued at $1,614,000. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Up 0.8 %

Shares of EVLV opened at $2.51 on Thursday. The company has a 50 day moving average of $3.60 and a 200-day moving average of $3.24. The stock has a market capitalization of $395.45 million, a P/E ratio of -17.93 and a beta of 1.34. Evolv Technologies has a twelve month low of $2.01 and a twelve month high of $5.73.

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.