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

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

Hedge Funds Weigh In On Evolv Technologies

Large investors have recently modified their holdings of the company. Sapient Capital LLC bought a new stake in Evolv Technologies during the fourth quarter valued at $3,188,000. Key Colony Management LLC boosted its position in shares of Evolv Technologies by 64.5% during the 1st quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after acquiring an additional 1,795,099 shares during the last quarter. Glenview Capital Management LLC grew its holdings in shares of Evolv Technologies by 21.7% during the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock worth $26,427,000 after purchasing an additional 1,000,000 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of Evolv Technologies by 49.2% in the first quarter. Wealthspire Advisors LLC now owns 18,194 shares of the company’s stock worth $81,000 after purchasing an additional 6,003 shares during the last quarter. Finally, Sierra Summit Advisors LLC purchased a new stake in Evolv Technologies in the fourth quarter valued at approximately $71,000. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Trading Down 6.8 %

Shares of EVLV stock opened at $3.30 on Thursday. Evolv Technologies has a 12 month low of $2.01 and a 12 month high of $8.30. The firm’s 50 day moving average is $2.68 and its 200 day moving average is $3.67. The stock has a market capitalization of $515.10 million, a P/E ratio of -5.41 and a beta of 1.24.

Evolv Technologies (NASDAQ:EVLV) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The business had revenue of $21.67 million for the quarter, compared to analysts’ expectations of $23.17 million. Evolv Technologies had a negative return on equity of 45.57% and a negative net margin of 106.93%. During the same quarter in the prior year, the firm posted ($0.15) EPS. On average, equities analysts predict that Evolv Technologies will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

EVLV has been the subject of a number of research reports. Craig Hallum began coverage on shares of Evolv Technologies in a research report on Monday, May 20th. They set a “buy” rating and a $5.75 target price for the company. TD Cowen reduced their price objective on Evolv Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, May 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 target price on shares of Evolv Technologies in a research note on Thursday, March 28th. Finally, Lake Street Capital cut Evolv Technologies from a “buy” rating to a “hold” rating and dropped their price target for the company from $6.00 to $3.50 in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.65.

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.