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

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

Insiders Place Their Bets

In other Evolv Technologies news, Director Michael Ellenbogen sold 80,745 shares of Evolv Technologies stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $5.47, for a total value of $441,675.15. Following the transaction, the director owned 2,083,961 shares in the company, valued at $11,399,266.67. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System lifted its position in shares of Evolv Technologies by 5.7% in the 3rd quarter. Arizona State Retirement System now owns 31,581 shares of the company’s stock worth $238,000 after purchasing an additional 1,694 shares during the period. CW Advisors LLC boosted its position 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 acquiring an additional 2,014 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Evolv Technologies by 16.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,601 shares of the company’s stock worth $118,000 after acquiring an additional 2,206 shares during the period. Jones Financial Companies Lllp grew its holdings in Evolv Technologies by 29.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 10,065 shares of the company’s stock worth $77,000 after acquiring an additional 2,266 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of Evolv Technologies by 13.2% in the 4th quarter. Advisory Services Network LLC now owns 22,694 shares of the company’s stock worth $162,000 after acquiring an additional 2,651 shares in the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV opened at $5.28 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.20 and a current ratio of 1.27. Evolv Technologies has a 52 week low of $2.64 and a 52 week high of $8.91. The firm has a market cap of $921.99 million, a PE ratio of -14.27 and a beta of 1.89. The firm’s fifty day moving average is $6.12 and its 200-day moving average is $7.00.

Wall Street Analyst Weigh In

EVLV has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evolv Technologies in a research report on Thursday, January 22nd. Lake Street Capital increased their price target on Evolv Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Evolv Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $9.13.

About Evolv Technologies

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.