Stock Traders Purchase High Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) 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.

Insiders Place Their Bets

In other Evolv Technologies news, insider Michael Ellenbogen sold 83,334 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $7.26, for a total transaction of $605,004.84. Following the transaction, the insider now directly owns 2,390,558 shares in the company, valued at approximately $17,355,451.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Evolv Technologies news, CRO Anthony John Derosa sold 10,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $3.80, for a total transaction of $38,000.00. Following the sale, the executive now owns 38,832 shares of the company’s stock, valued at approximately $147,561.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Ellenbogen sold 83,334 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $7.26, for a total value of $605,004.84. Following the sale, the insider now directly owns 2,390,558 shares in the company, valued at approximately $17,355,451.08. The disclosure for this sale can be found here. Insiders have sold 214,134 shares of company stock worth $1,346,939 in the last ninety days. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolv Technologies

A number of large investors have recently modified their holdings of EVLV. State of Wyoming increased its holdings in shares of Evolv Technologies by 100.1% in the 2nd quarter. State of Wyoming now owns 5,558 shares of the company’s stock valued at $33,000 after acquiring an additional 2,780 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Evolv Technologies by 47.6% during the second quarter. Ameritas Investment Partners Inc. now owns 9,305 shares of the company’s stock worth $56,000 after acquiring an additional 3,001 shares during the period. Metropolitan Life Insurance Co NY raised its holdings in shares of Evolv Technologies by 126.6% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,257 shares of the company’s stock worth $38,000 after purchasing an additional 3,496 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Evolv Technologies by 28.8% in the third quarter. Global Retirement Partners LLC now owns 17,000 shares of the company’s stock worth $79,000 after buying an additional 3,800 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Evolv Technologies by 117.1% in the second quarter. Tower Research Capital LLC TRC now owns 8,642 shares of the company’s stock valued at $52,000 after purchasing an additional 4,661 shares in the last quarter. 52.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EVLV has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on shares of Evolv Technologies from $2.00 to $5.00 and gave the company a “hold” rating in a research report on Friday, August 11th. Craig Hallum raised their price target on shares of Evolv Technologies from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $8.60 price target on shares of Evolv Technologies in a research report on Thursday, September 14th.

Evolv Technologies Stock Performance

Shares of Evolv Technologies stock opened at $4.25 on Wednesday. The business has a 50-day simple moving average of $5.17 and a 200-day simple moving average of $2.97. The company has a market cap of $637.48 million, a PE ratio of -4.38 and a beta of 1.42. Evolv Technologies has a one year low of $1.98 and a one year high of $8.30.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $19.83 million for the quarter, compared to analysts’ expectations of $14.19 million. Evolv Technologies had a negative return on equity of 45.24% and a negative net margin of 187.36%. On average, sell-side analysts predict that Evolv Technologies will post -0.93 earnings per share for the current fiscal year.

Evolv Technologies Company Profile

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening. 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.