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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw some unusual options trading activity on Tuesday. Stock traders acquired 11,709 put options on the stock. This represents an increase of approximately 504% compared to the typical volume of 1,938 put options.

Institutional Trading of Evolv Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Evolv Technologies in the third quarter valued at about $44,000. Foundations Investment Advisors LLC bought a new stake in Evolv Technologies in the 2nd quarter worth about $30,000. First Bank & Trust purchased a new stake in Evolv Technologies in the 3rd quarter valued at about $52,000. Worth Financial Advisory Group LLC lifted its position in shares of Evolv Technologies by 42.0% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock worth $38,000 after buying an additional 4,435 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Evolv Technologies by 50.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after buying an additional 5,100 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Stock Performance

Shares of NASDAQ EVLV opened at $3.92 on Thursday. The stock has a market cap of $616.81 million, a price-to-earnings ratio of -27.96 and a beta of 1.34. Evolv Technologies has a fifty-two week low of $2.01 and a fifty-two week high of $5.73. The firm’s 50-day simple moving average is $3.41 and its 200 day simple moving average is $3.19.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen lowered shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Finally, Lake Street Capital lowered their target price on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.