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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of unusually large options trading activity on Tuesday. 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.

Evolv Technologies Stock Performance

Shares of Evolv Technologies stock opened at $6.05 on Wednesday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -28.81 and a beta of 1.89. Evolv Technologies has a twelve month low of $2.64 and a twelve month high of $8.91. The company’s fifty day moving average is $5.62 and its 200 day moving average is $6.63. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.24.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Tuesday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.14. Evolv Technologies had a negative return on equity of 30.45% and a negative net margin of 22.71%.The business had revenue of $38.50 million during the quarter, compared to analyst estimates of $36.44 million. Sell-side analysts forecast that Evolv Technologies will post -0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.13.

Insider Buying and Selling at Evolv Technologies

In other news, Director Michael Ellenbogen sold 91,771 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $5.10, for a total value of $468,032.10. Following the sale, the director directly owned 2,083,961 shares in the company, valued at approximately $10,628,201.10. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 253,261 shares of company stock valued at $1,410,326. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in EVLV. Vanguard Group Inc. increased its position in Evolv Technologies by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 13,784,926 shares of the company’s stock valued at $98,700,000 after purchasing an additional 1,802,928 shares during the period. Stoic Point Capital Management LLC bought a new position in Evolv Technologies during the 4th quarter worth approximately $40,724,000. Millennium Management LLC lifted its position in shares of Evolv Technologies by 194.6% in the 3rd quarter. Millennium Management LLC now owns 4,187,604 shares of the company’s stock worth $31,616,000 after purchasing an additional 2,766,335 shares during the period. Marshall Wace LLP lifted its position in shares of Evolv Technologies by 74.4% in the 2nd quarter. Marshall Wace LLP now owns 3,899,155 shares of the company’s stock worth $24,331,000 after purchasing an additional 1,662,797 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Evolv Technologies by 17.9% in the 4th quarter. Geode Capital Management LLC now owns 3,680,421 shares of the company’s stock valued at $26,357,000 after purchasing an additional 557,703 shares during the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

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.