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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw some unusual options trading on Tuesday. Traders acquired 5,513 call options on the stock. This is an increase of 1,690% compared to the typical volume of 308 call options.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV opened at $4.20 on Thursday. Evolv Technologies has a one year low of $2.01 and a one year high of $5.73. The company has a 50 day moving average of $3.84 and a 200-day moving average of $3.43. The stock has a market cap of $655.57 million, a price-to-earnings ratio of -6.89 and a beta of 1.25.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.15. The firm had revenue of $25.54 million during the quarter, compared to analysts’ expectations of $23.57 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. Equities research analysts anticipate that Evolv Technologies will post -0.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EVLV. MCF Advisors LLC lifted its stake in Evolv Technologies by 84.5% in the first quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock valued at $29,000 after buying an additional 3,000 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Evolv Technologies in the first quarter valued at approximately $45,000. SG Americas Securities LLC bought a new position in Evolv Technologies in the third quarter valued at approximately $44,000. Foundations Investment Advisors LLC bought a new stake in shares of Evolv Technologies in the second quarter worth $30,000. Finally, Worth Financial Advisory Group LLC lifted its position in shares of Evolv Technologies by 42.0% in the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock worth $38,000 after purchasing an additional 4,435 shares in the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

Analyst Ratings Changes

Separately, Northland Securities reduced their price objective on shares of Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.75.

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.