Traders Purchase Large Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Foundations Investment Advisors LLC purchased a new position in Evolv Technologies in the second quarter valued at approximately $30,000. SG Americas Securities LLC acquired a new stake in Evolv Technologies during the 3rd quarter valued at $44,000. Principal Financial Group Inc. lifted its holdings in Evolv Technologies by 30.5% in the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after buying an additional 4,127 shares in the last quarter. First Bank & Trust purchased a new position in Evolv Technologies in the 3rd quarter valued at about $52,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Evolv Technologies by 50.5% during the third quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after acquiring an additional 5,100 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Evolv Technologies Stock Up 4.3 %

Evolv Technologies stock opened at $3.91 on Thursday. The firm’s 50-day simple moving average is $3.39 and its 200 day simple moving average is $3.37. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $5.73. The firm has a market capitalization of $616.02 million, a PE ratio of -27.93 and a beta of 1.67.

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.