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

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

Evolv Technologies Stock Performance

NASDAQ EVLV opened at $3.86 on Thursday. The stock has a market capitalization of $600.53 million, a price-to-earnings ratio of -5.29 and a beta of 1.35. The stock’s 50 day moving average price is $4.08 and its two-hundred day moving average price is $4.30. Evolv Technologies has a 52 week low of $3.28 and a 52 week high of $8.30.

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

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 price objective on shares of Evolv Technologies in a report on Thursday, March 28th.

Insider Activity at Evolv Technologies

In related news, insider Anil Chitkara sold 50,000 shares of Evolv Technologies stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.00, for a total value of $250,000.00. Following the completion of the sale, the insider now directly owns 1,200,157 shares in the company, valued at $6,000,785. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Michael Ellenbogen sold 54,873 shares of Evolv Technologies stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $5.04, for a total transaction of $276,559.92. Following the transaction, the insider now owns 1,975,473 shares in the company, valued at approximately $9,956,383.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $250,000.00. Following the transaction, the insider now owns 1,200,157 shares in the company, valued at approximately $6,000,785. The disclosure for this sale can be found here. 10.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Evolv Technologies by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,530,427 shares of the company’s stock worth $31,738,000 after acquiring an additional 81,689 shares during the last quarter. Glenview Capital Management LLC increased its holdings in shares of Evolv Technologies by 21.7% during the 4th quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock worth $26,427,000 after acquiring an additional 1,000,000 shares during the last quarter. Edge Capital Group LLC increased its holdings in shares of Evolv Technologies by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 4,819,327 shares of the company’s stock worth $22,747,000 after acquiring an additional 56,500 shares during the last quarter. Key Colony Management LLC increased its holdings in shares of Evolv Technologies by 64.5% during the 1st quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock worth $20,368,000 after acquiring an additional 1,795,099 shares during the last quarter. Finally, Sapient Capital LLC grew its holdings in Evolv Technologies by 1.7% in the 1st quarter. Sapient Capital LLC now owns 686,736 shares of the company’s stock valued at $3,056,000 after buying an additional 11,400 shares in the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

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.