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

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

Institutional Investors Weigh In On Evolv Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Evolv Technologies by 13.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 443,006 shares of the company’s stock worth $1,130,000 after acquiring an additional 54,010 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Evolv Technologies by 30.5% during the 2nd quarter. Principal Financial Group Inc. now owns 17,650 shares of the company’s stock worth $45,000 after acquiring an additional 4,127 shares during the period. Foundations Investment Advisors LLC purchased a new stake in Evolv Technologies in the 2nd quarter valued at about $30,000. Arizona State Retirement System raised its holdings in Evolv Technologies by 12.9% in the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock valued at $78,000 after buying an additional 3,490 shares during the period. Finally, Resolute Capital Asset Partners LLC purchased a new stake in Evolv Technologies in the 2nd quarter valued at about $510,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

Wall Street Analyst Weigh In

EVLV has been the topic of a number of recent analyst reports. TD Cowen cut shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Lake Street Capital decreased their price objective on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research report on Monday, October 28th. Northland Capmk lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Northland Securities lowered shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Evolv Technologies currently has a consensus rating of “Hold” and an average price target of $5.60.

Evolv Technologies Trading Down 7.4 %

EVLV opened at $3.25 on Thursday. The firm has a market capitalization of $512.04 million, a PE ratio of -23.21 and a beta of 1.66. The firm has a 50 day moving average of $3.45 and a two-hundred day moving average of $3.47. Evolv Technologies has a 12-month low of $2.01 and a 12-month high of $5.73.

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.