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

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

Evolv Technologies Trading Down 4.1 %

Shares of EVLV stock opened at $3.51 on Wednesday. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $5.73. The stock has a market capitalization of $553.00 million, a P/E ratio of -25.07 and a beta of 1.66. The firm’s 50 day moving average is $3.43 and its 200 day moving average is $3.48.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Lake Street Capital dropped their price target on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research note on Monday, October 28th. Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. TD Cowen downgraded shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Finally, Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. One 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.60.

Hedge Funds Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System grew its stake in shares of Evolv Technologies by 12.9% during the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock valued at $78,000 after acquiring an additional 3,490 shares during the period. Principal Financial Group Inc. lifted its holdings in 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 purchasing an additional 4,127 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Evolv Technologies by 8.5% in the third quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock worth $245,000 after purchasing an additional 4,756 shares during the period. MetLife Investment Management LLC increased its stake in shares of Evolv Technologies by 7.1% in the third quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock worth $312,000 after purchasing an additional 5,090 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after purchasing an additional 5,100 shares during the period. Hedge funds and other institutional investors own 66.65% of the company’s stock.

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.