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

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

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds have recently bought and sold shares of the company. Key Colony Management LLC grew its stake in Evolv Technologies by 12.1% during the 3rd quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after buying an additional 545,492 shares during the last quarter. Geode Capital Management LLC boosted its stake in Evolv Technologies by 14.4% during the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after buying an additional 355,611 shares in the last quarter. State Street Corp boosted its position in shares of Evolv Technologies by 3.0% during the 3rd quarter. State Street Corp now owns 2,663,078 shares of the company’s stock valued at $10,785,000 after purchasing an additional 78,775 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Evolv Technologies by 20.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock worth $3,743,000 after buying an additional 158,877 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of Evolv Technologies by 159.4% in the 3rd quarter. GSA Capital Partners LLP now owns 884,224 shares of the company’s stock worth $3,581,000 after acquiring an additional 543,322 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EVLV has been the subject of several recent analyst reports. TD Cowen cut shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Northland Capmk downgraded Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Lake Street Capital decreased their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Northland Securities downgraded shares of Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Evolv Technologies presently has an average rating of “Hold” and an average price target of $5.60.

Evolv Technologies Stock Down 0.9 %

Shares of EVLV opened at $3.22 on Thursday. The business’s 50 day moving average is $3.59 and its two-hundred day moving average is $3.52. The firm has a market cap of $507.31 million, a price-to-earnings ratio of -23.00 and a beta of 1.66. Evolv Technologies has a 52-week low of $2.01 and a 52-week 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.