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

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

Evolv Technologies Trading Down 4.3 %

Shares of NASDAQ EVLV opened at $4.84 on Thursday. Evolv Technologies has a 1-year low of $2.80 and a 1-year high of $8.30. The company has a 50-day moving average of $4.34 and a two-hundred day moving average of $4.37. The company has a market cap of $736.55 million, a PE ratio of -6.63 and a beta of 1.35.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. The firm had revenue of $21.82 million for the quarter, compared to the consensus estimate of $18.81 million. Evolv Technologies had a negative return on equity of 47.56% and a negative net margin of 132.13%. As a group, equities research analysts forecast that Evolv Technologies will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price objective on shares of Evolv Technologies in a research note on Thursday, March 28th.

Insider Activity at Evolv Technologies

In other news, insider Anil Chitkara sold 50,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the sale, the insider now owns 1,200,157 shares of the company’s stock, valued at approximately $6,000,785. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Anil Chitkara sold 50,000 shares of Evolv Technologies stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now directly owns 1,200,157 shares of the company’s stock, valued at approximately $6,000,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Ellenbogen sold 41,667 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $4.22, for a total transaction of $175,834.74. Following the sale, the insider now directly owns 2,030,346 shares in the company, valued at $8,568,060.12. The disclosure for this sale can be found here. Insiders have sold a total of 146,540 shares of company stock valued at $702,395 in the last 90 days. 10.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in Evolv Technologies by 1.5% during the 3rd quarter. HighTower Advisors LLC now owns 171,397 shares of the company’s stock valued at $833,000 after purchasing an additional 2,489 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Evolv Technologies during the 3rd quarter worth approximately $2,138,000. Key Colony Management LLC raised its stake in shares of Evolv Technologies by 157.8% during the fourth quarter. Key Colony Management LLC now owns 2,781,928 shares of the company’s stock worth $13,131,000 after buying an additional 1,702,928 shares during the last quarter. Quent Capital LLC lifted its holdings in Evolv Technologies by 53.8% in the fourth quarter. Quent Capital LLC now owns 20,000 shares of the company’s stock valued at $94,000 after buying an additional 7,000 shares during the period. Finally, Graham Capital Management L.P. bought a new position in Evolv Technologies in the third quarter valued at approximately $369,000. Institutional investors 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.