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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) saw some unusual options trading activity on Tuesday. Stock investors acquired 5,513 call options on the stock. This is an increase of 1,690% compared to the typical daily volume of 308 call options.

Evolv Technologies Trading Up 17.0 %

• Evolv Technologies Had a Bad Week, Is it Time to Buy or Fade?

Evolv Technologies stock opened at $2.82 on Wednesday. The company's 50-day moving average price is $3.91 and its two-hundred day moving average price is $4.27. The stock has a market cap of $440.17 million, a price-to-earnings ratio of -4.62 and a beta of 1.37. Evolv Technologies has a 52 week low of $2.01 and a 52 week high of $8.30.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. Evolv Technologies had a negative return on equity of 45.57% and a negative net margin of 106.93%. The company had revenue of $21.67 million for the quarter, compared to the consensus estimate of $23.17 million. During the same quarter in the previous year, the business earned ($0.15) EPS. Research analysts expect that Evolv Technologies will post -0.48 earnings per share for the current fiscal year.

Insider Activity

• MarketBeat Week in Review – 11/13 - 11/17

In related news, Director David Mounts Gonzales purchased 50,000 shares of Evolv Technologies stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $3.86 per share, with a total value of $193,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company's stock, valued at approximately $193,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.20% of the company's stock.

Institutional Trading of Evolv Technologies

A number of hedge funds have recently bought and sold shares of EVLV. MCF Advisors LLC lifted its position in Evolv Technologies by 84.5% in the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company's stock worth $29,000 after buying an additional 3,000 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Evolv Technologies during the 1st quarter valued at $45,000. Victory Capital Management Inc. acquired a new position in Evolv Technologies during the third quarter worth $49,000. Worth Financial Advisory Group LLC acquired a new position in Evolv Technologies during the fourth quarter worth $50,000. Finally, Worth Venture Partners LLC acquired a new stake in shares of Evolv Technologies in the fourth quarter worth about $53,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

• Is it time to buy EVOLV Technologies after post-earnings dip?

EVLV has been the topic of several recent research reports. TD Cowen reduced their target price on shares of Evolv Technologies from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, May 10th. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 target price on shares of Evolv Technologies in a report on Thursday, March 28th. Finally, Lake Street Capital cut Evolv Technologies from a "buy" rating to a "hold" rating and decreased their price target for the stock from $6.00 to $3.50 in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $6.50.

Check Out Our Latest Analysis on Evolv Technologies

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.

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