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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw some unusual options trading on Tuesday. Stock traders bought 5,513 call options on the stock. This is an increase of 1,690% compared to the typical daily volume of 308 call options.

Evolv Technologies Trading Up 0.3 %

Shares of EVLV opened at $3.94 on Thursday. The business’s 50 day moving average is $4.60 and its 200 day moving average is $3.23. The company has a market capitalization of $595.47 million, a PE ratio of -4.86 and a beta of 1.45. Evolv Technologies has a 12-month low of $1.98 and a 12-month high of $8.30.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EVLV shares. Cantor Fitzgerald decreased their price objective on Evolv Technologies from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, November 10th. Stifel Nicolaus raised their price objective on Evolv Technologies from $2.00 to $5.00 and gave the stock a “hold” rating in a research note on Friday, August 11th. Finally, Craig Hallum raised their price objective on Evolv Technologies from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 11th.

Insider Activity at Evolv Technologies

In other Evolv Technologies news, insider Michael Ellenbogen sold 83,334 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $5.63, for a total value of $469,170.42. Following the transaction, the insider now directly owns 2,307,224 shares of the company’s stock, valued at $12,989,671.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Evolv Technologies news, insider Michael Ellenbogen sold 83,334 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $5.63, for a total value of $469,170.42. Following the transaction, the insider now directly owns 2,307,224 shares of the company’s stock, valued at $12,989,671.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Anthony John Derosa sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $6.99, for a total value of $69,900.00. Following the completion of the transaction, the executive now directly owns 38,832 shares in the company, valued at $271,435.68. The disclosure for this sale can be found here. Insiders have sold 120,800 shares of company stock valued at $664,734 over the last ninety days. Insiders own 10.70% of the company’s stock.

Institutional Trading of Evolv Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cowen AND Company LLC bought a new stake in Evolv Technologies in the 2nd quarter worth approximately $268,000. Global Retirement Partners LLC increased its stake in Evolv Technologies by 28.8% in the 3rd quarter. Global Retirement Partners LLC now owns 17,000 shares of the company’s stock worth $79,000 after acquiring an additional 3,800 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Evolv Technologies in the 3rd quarter worth approximately $134,000. Quent Capital LLC bought a new stake in Evolv Technologies in the 3rd quarter worth approximately $63,000. Finally, Key Colony Management LLC increased its stake in Evolv Technologies by 292.4% in the 3rd quarter. Key Colony Management LLC now owns 1,079,000 shares of the company’s stock worth $5,244,000 after acquiring an additional 804,000 shares during the last quarter. Institutional investors own 52.15% of the company’s stock.

Evolv Technologies Company Profile

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening. 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.