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

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

Evolv Technologies Price Performance

Shares of Evolv Technologies stock opened at $3.91 on Wednesday. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73. The business has a 50-day moving average of $3.39 and a two-hundred day moving average of $3.36. The company has a market capitalization of $616.02 million, a P/E ratio of -27.93 and a beta of 1.67.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds have recently modified their holdings of EVLV. Foundations Investment Advisors LLC bought a new position in shares of Evolv Technologies during the 2nd quarter worth approximately $30,000. SG Americas Securities LLC bought a new position in shares of Evolv Technologies during the third quarter worth approximately $44,000. Principal Financial Group Inc. lifted its holdings in Evolv Technologies by 30.5% during the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after purchasing an additional 4,127 shares during the last quarter. First Bank & Trust bought a new stake in Evolv Technologies in the 3rd quarter valued at $52,000. Finally, Sequoia Financial Advisors LLC grew its holdings in Evolv Technologies by 50.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after buying an additional 5,100 shares in the last quarter. Institutional investors own 66.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a report 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 on the stock in a research note on Monday, October 28th. TD Cowen lowered Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Finally, Northland Capmk lowered Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Evolv Technologies presently has a consensus rating of “Hold” and an average target price of $5.60.

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.