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

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

Wall Street Analyst Weigh In

A number of research firms recently commented on EVLV. Cantor Fitzgerald upgraded Evolv Technologies to a “strong-buy” rating in a report on Wednesday, May 21st. Wall Street Zen raised Evolv Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Northland Securities raised Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a research note on Wednesday, May 21st. Northland Capmk raised Evolv Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 20th. Finally, Lake Street Capital boosted their target price on Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.50.

Evolv Technologies Price Performance

EVLV stock opened at $5.85 on Wednesday. The stock has a market capitalization of $959.38 million, a P/E ratio of -41.78 and a beta of 1.61. The business has a 50-day moving average of $3.90 and a 200-day moving average of $3.69. Evolv Technologies has a fifty-two week low of $2.04 and a fifty-two week high of $6.16.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The company had revenue of $32.01 million during the quarter, compared to analysts’ expectations of $26.40 million. Evolv Technologies had a negative return on equity of 28.57% and a negative net margin of 21.42%. Equities analysts expect that Evolv Technologies will post -0.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EVLV. CW Advisors LLC acquired a new position in shares of Evolv Technologies during the first quarter worth about $33,000. Autumn Glory Partners LLC acquired a new position in Evolv Technologies during the fourth quarter valued at approximately $40,000. B. Riley Wealth Advisors Inc. acquired a new position in Evolv Technologies during the fourth quarter valued at approximately $40,000. Cibc World Markets Corp acquired a new position in Evolv Technologies during the fourth quarter valued at approximately $49,000. Finally, Teacher Retirement System of Texas acquired a new position in Evolv Technologies during the first quarter valued at approximately $50,000. 66.65% of the stock is owned by institutional investors and hedge funds.

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.