Evolv Technologies Target of Unusually High Options Trading (NASDAQ:EVLV)

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

Hedge Funds Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Evolv Technologies in the third quarter valued at approximately $44,000. Foundations Investment Advisors LLC acquired a new stake in shares of Evolv Technologies in the second quarter valued at approximately $30,000. First Bank & Trust acquired a new stake in shares of Evolv Technologies in the third quarter valued at approximately $52,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Evolv Technologies by 50.5% in 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 during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Evolv Technologies in the third quarter valued at approximately $63,000. 66.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Evolv Technologies Stock Performance

Shares of Evolv Technologies stock opened at $3.25 on Thursday. The business has a 50-day simple moving average of $3.45 and a 200-day simple moving average of $3.47. The company has a market cap of $512.04 million, a PE ratio of -23.21 and a beta of 1.66. Evolv Technologies has a one year low of $2.01 and a one year high of $5.73.

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.