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

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

Evolv Technologies Trading Down 1.2 %

Shares of NASDAQ EVLV opened at $4.14 on Wednesday. The firm has a 50 day moving average of $3.46 and a 200 day moving average of $3.38. The firm has a market capitalization of $646.20 million, a price-to-earnings ratio of -6.79 and a beta of 1.25. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $5.73.

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

Institutional Investors Weigh In On Evolv Technologies

Institutional investors have recently bought and sold shares of the business. MCF Advisors LLC grew its holdings in 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 buying an additional 3,000 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in shares of Evolv Technologies during the second quarter valued at approximately $30,000. Worth Financial Advisory Group LLC increased its stake in 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 during the period. Sequoia Financial Advisors LLC purchased a new position in Evolv Technologies in the 1st quarter worth about $45,000. Finally, Principal Financial Group Inc. raised its stake in shares of Evolv Technologies by 30.5% during the second quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock valued at $45,000 after acquiring an additional 4,127 shares in the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Northland Securities decreased their target price on Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.