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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of some unusual options trading on Tuesday. Stock traders purchased 5,513 call options on the company. Thisrepresentsanincreaseofapproximately1,690% compared to the average daily volume of 308 call options.

Analyst Ratings Changes

Several research firms recently commented on EVLV. Northland Securities upgraded Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 target price on the stock in a research report 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. Cantor Fitzgerald increased their price target on Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, August 15th. Lake Street Capital raised Evolv Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $5.50 to $9.00 in a research note on Friday, August 15th. Finally, TD Cowen reaffirmed a “buy” rating and set a $10.00 price target on shares of Evolv Technologies in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $8.88.

Evolv Technologies Stock Down 1.4%

Shares of Evolv Technologies stock opened at $7.88 on Wednesday. The stock has a market cap of $1.35 billion, a PE ratio of -14.33 and a beta of 1.70. The business has a fifty day simple moving average of $6.32 and a 200-day simple moving average of $4.77. Evolv Technologies has a 12 month low of $2.04 and a 12 month high of $8.91.

Evolv Technologies (NASDAQ:EVLV) last issued its earnings results on Thursday, August 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%.The business had revenue of $26.68 million during the quarter, compared to analyst estimates of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. Analysts expect that Evolv Technologies will post -0.27 EPS for the current fiscal year.

Institutional Trading of Evolv Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. CW Advisors LLC raised its holdings in Evolv Technologies by 19.0% during the second quarter. CW Advisors LLC now owns 12,614 shares of the company’s stock valued at $79,000 after buying an additional 2,014 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Evolv Technologies by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,878 shares of the company’s stock valued at $296,000 after buying an additional 3,276 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Evolv Technologies by 38.3% during the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company’s stock valued at $81,000 after buying an additional 3,596 shares in the last quarter. American Century Companies Inc. raised its holdings in Evolv Technologies by 6.1% during the first quarter. American Century Companies Inc. now owns 63,315 shares of the company’s stock valued at $198,000 after buying an additional 3,633 shares in the last quarter. Finally, Mariner LLC raised its holdings in Evolv Technologies by 15.9% during the fourth quarter. Mariner LLC now owns 26,532 shares of the company’s stock valued at $105,000 after buying an additional 3,639 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

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.