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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Evolv Technologies by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company’s stock worth $296,000 after buying an additional 3,276 shares in the last quarter. Mariner LLC raised its position in Evolv Technologies by 15.9% in the fourth quarter. Mariner LLC now owns 26,532 shares of the company’s stock worth $105,000 after acquiring an additional 3,639 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Evolv Technologies by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 60,441 shares of the company’s stock valued at $245,000 after acquiring an additional 4,756 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Evolv Technologies by 7.1% in the 3rd quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock valued at $312,000 after acquiring an additional 5,090 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Evolv Technologies by 50.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after purchasing an additional 5,100 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Stock Performance

Shares of EVLV stock opened at $3.92 on Thursday. The firm has a market capitalization of $617.60 million, a PE ratio of -28.00 and a beta of 1.66. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.28. The stock has a fifty day moving average of $3.76 and a two-hundred day moving average of $3.64.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EVLV. Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Lake Street Capital lowered their target price on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research note on Monday, October 28th. TD Cowen cut Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Finally, Northland Securities downgraded Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.60.

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.