Evolv Technologies Target of Unusually High Options Trading (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw some unusual options trading activity 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 Stock Up 1.9 %

Shares of Evolv Technologies stock opened at $3.25 on Wednesday. The stock has a market cap of $512.04 million, a PE ratio of -23.21 and a beta of 1.66. Evolv Technologies has a 12 month low of $2.01 and a 12 month high of $5.73. The business has a fifty day simple moving average of $3.58 and a 200-day simple moving average of $3.53.

Wall Street Analyst Weigh In

EVLV has been the subject of several recent research reports. Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Lake Street Capital decreased their price target on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report 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 data from MarketBeat.com, Evolv Technologies has a consensus rating of “Hold” and an average target price of $5.60.

Institutional Investors Weigh In On Evolv Technologies

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Evolv Technologies in the third quarter worth approximately $44,000. First Bank & Trust acquired a new stake in shares of Evolv Technologies during the 3rd quarter valued at $52,000. Sequoia Financial Advisors LLC increased its stake in shares of Evolv Technologies by 50.5% in the third quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after acquiring an additional 5,100 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Evolv Technologies during the third quarter worth $63,000. Finally, Phillips Financial Management LLC acquired a new stake in Evolv Technologies during the third quarter valued at $99,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.