Stock Traders Buy High Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

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

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVLV. Silvercrest Asset Management Group LLC acquired a new stake in shares of Evolv Technologies in the first quarter valued at about $2,897,000. Key Colony Management LLC increased its holdings in 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 lifted its position in shares of Evolv Technologies by 159.4% during the 3rd quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock valued at $3,581,000 after acquiring an additional 543,322 shares during the period. Vanguard Group Inc. lifted its position in shares of Evolv Technologies by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after acquiring an additional 407,396 shares during the period. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Evolv Technologies during the 3rd quarter worth approximately $1,614,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

Evolv Technologies Stock Up 13.8 %

Shares of Evolv Technologies stock opened at $3.92 on Thursday. The firm 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 52-week low of $2.01 and a 52-week high of $5.73. The company’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 research analysts have recently weighed in on EVLV shares. TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Northland Securities downgraded shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Northland Capmk cut shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Lake Street Capital dropped their price target 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.60.

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.