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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of some unusual options trading on Tuesday. Stock investors acquired 5,513 call options on the stock. This represents an increase of 1,690% compared to the average volume of 308 call options.

Institutional Trading of Evolv Technologies

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Evolv Technologies by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after buying an additional 407,396 shares during the last quarter. Glenview Capital Management LLC boosted its position in 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 during the period. Edge Capital Group LLC increased its stake in shares of Evolv Technologies by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 4,819,327 shares of the company’s stock worth $22,747,000 after purchasing an additional 56,500 shares in the last quarter. Key Colony Management LLC raised its position in shares of Evolv Technologies by 64.5% in the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after purchasing an additional 1,795,099 shares during the period. Finally, Sapient Capital LLC lifted its stake in shares of Evolv Technologies by 7.3% during the 2nd quarter. Sapient Capital LLC now owns 737,136 shares of the company’s stock valued at $1,880,000 after buying an additional 50,400 shares in the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Stock Performance

EVLV opened at $3.90 on Thursday. Evolv Technologies has a fifty-two week low of $2.01 and a fifty-two week high of $5.73. The firm has a 50-day moving average of $3.71 and a 200 day moving average of $3.42. The firm has a market cap of $608.74 million, a P/E ratio of -6.39 and a beta of 1.25.

Evolv Technologies (NASDAQ:EVLV) last released its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.15. The firm had revenue of $25.54 million during the quarter, compared to the consensus estimate of $23.57 million. Evolv Technologies had a negative net margin of 21.42% and a negative return on equity of 28.57%. Equities research analysts predict that Evolv Technologies will post -0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Northland Securities reduced their price objective on shares of Evolv Technologies from $6.50 to $5.50 and set an “outperform” rating for the company in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.75.

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.