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

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

Evolv Technologies Trading Down 0.9 %

EVLV opened at $3.22 on Thursday. The firm has a market cap of $507.31 million, a price-to-earnings ratio of -23.00 and a beta of 1.66. The stock’s 50-day moving average price is $3.59 and its 200 day moving average price is $3.52. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $5.73.

Analyst Upgrades and Downgrades

Several brokerages have commented on EVLV. Northland Capmk lowered Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Northland Securities cut shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Lake Street Capital cut 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. Finally, TD Cowen lowered shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.60.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EVLV. Barclays PLC increased its holdings in Evolv Technologies by 352.3% during the 3rd quarter. Barclays PLC now owns 211,551 shares of the company’s stock worth $856,000 after purchasing an additional 164,775 shares during the period. Ironwood Investment Management LLC acquired a new position in Evolv Technologies during the second quarter worth approximately $724,000. Geode Capital Management LLC raised its position in Evolv Technologies by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after purchasing an additional 355,611 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Evolv Technologies by 159.4% in the third quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock valued at $3,581,000 after buying an additional 543,322 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Evolv Technologies by 20.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock valued at $3,743,000 after acquiring an additional 158,877 shares during the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

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.