Evolv Technologies Sees Unusually Large Options Volume (NASDAQ:EVLV)

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

Evolv Technologies Trading Down 5.0 %

Shares of NASDAQ:EVLV opened at $2.49 on Wednesday. The company has a 50 day moving average of $3.62 and a 200-day moving average of $3.25. Evolv Technologies has a one year low of $2.01 and a one year high of $5.73.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC acquired a new stake in shares of Evolv Technologies in the 1st quarter valued at approximately $2,897,000. Key Colony Management LLC boosted its position in shares of Evolv Technologies by 12.1% during the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock worth $20,499,000 after purchasing an additional 545,492 shares in the last quarter. 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 valued at $3,581,000 after buying an additional 543,322 shares during the period. Vanguard Group Inc. increased its position in shares of Evolv Technologies by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after buying an additional 407,396 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Evolv Technologies during the 3rd quarter worth $1,614,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

Analyst Ratings Changes

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

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.