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

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

Evolv Technologies Stock Up 1.2 %

Shares of EVLV opened at $3.36 on Thursday. The company has a market capitalization of $529.37 million, a PE ratio of -24.00 and a beta of 1.66. Evolv Technologies has a 52-week low of $2.01 and a 52-week high of $5.28. The company has a 50-day simple moving average of $3.70 and a 200-day simple moving average of $3.67.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVLV. Autumn Glory Partners LLC acquired a new stake in shares of Evolv Technologies in the 4th quarter worth approximately $40,000. B. Riley Wealth Advisors Inc. acquired a new stake in Evolv Technologies in the fourth quarter valued at $40,000. Cibc World Markets Corp purchased a new position in shares of Evolv Technologies in the fourth quarter valued at $49,000. Virtu Financial LLC purchased a new position in shares of Evolv Technologies in the third quarter valued at $63,000. Finally, Clare Market Investments LLC acquired a new position in shares of Evolv Technologies during the 4th quarter worth $71,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

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.