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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLVGet Free Report) saw unusually large options trading on Tuesday. Stock traders bought 5,513 call options on the stock. This represents an increase of 1,690% compared to the average volume of 308 call options.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Cowen reduced their price objective on Evolv Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Craig Hallum assumed coverage on Evolv Technologies in a report on Monday, May 20th. They set a “buy” rating and a $5.75 price objective on the stock. Lake Street Capital downgraded Evolv Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $6.00 to $3.50 in a report on Friday, May 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price objective on shares of Evolv Technologies in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.65.

Get Our Latest Report on EVLV

Evolv Technologies Trading Down 1.9 %

Shares of NASDAQ:EVLV opened at $2.53 on Wednesday. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $8.30. The business’s fifty day simple moving average is $2.74 and its 200-day simple moving average is $3.79. The company has a market capitalization of $394.91 million, a PE ratio of -4.15 and a beta of 1.24.

Evolv Technologies (NASDAQ:EVLVGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. Evolv Technologies had a negative return on equity of 45.57% and a negative net margin of 106.93%. The business had revenue of $21.67 million for the quarter, compared to the consensus estimate of $23.17 million. During the same period last year, the business posted ($0.15) EPS. Research analysts predict that Evolv Technologies will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Graham Capital Management L.P. purchased a new position in Evolv Technologies during the 3rd quarter worth $369,000. Vanguard Group Inc. grew its stake in 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 buying an additional 81,689 shares during the last quarter. Key Colony Management LLC grew its stake in Evolv Technologies by 157.8% during the 4th 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. SG Americas Securities LLC grew its stake in Evolv Technologies by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 57,309 shares of the company’s stock worth $270,000 after buying an additional 12,196 shares during the last quarter. Finally, Quent Capital LLC grew its stake in Evolv Technologies by 53.8% during the 4th quarter. Quent Capital LLC now owns 20,000 shares of the company’s stock worth $94,000 after buying an additional 7,000 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

About Evolv Technologies

(Get Free Report)

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.

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