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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of unusually large options trading activity on Tuesday. Traders bought 5,513 call options on the stock. This is an increase of approximately 1,690% compared to the typical daily volume of 308 call options.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EVLV shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Evolv Technologies in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Lake Street Capital increased their price objective on shares of Evolv Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Cantor Fitzgerald raised their price objective on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, August 15th. Finally, TD Cowen reiterated a “buy” rating and issued a $10.00 target price on shares of Evolv Technologies in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.13.

Insider Buying and Selling at Evolv Technologies

In related news, Director Kevin M. Charlton purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $5.68 per share, for a total transaction of $85,200.00. Following the purchase, the director directly owned 44,081 shares of the company’s stock, valued at approximately $250,380.08. This represents a 51.58% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Gates Frontier, Llc sold 776,236 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total value of $6,365,135.20. Following the transaction, the insider directly owned 17,189,096 shares of the company’s stock, valued at approximately $140,950,587.20. This trade represents a 4.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have purchased 61,300 shares of company stock valued at $363,326 and have sold 1,911,445 shares valued at $15,560,635. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Evolv Technologies

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Evolv Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock worth $29,336,000 after buying an additional 477,124 shares in the last quarter. Josh Arnold Investment Consultant LLC purchased a new position in shares of Evolv Technologies during the 1st quarter valued at about $1,248,000. Key Colony Management LLC grew its stake in shares of Evolv Technologies by 2.0% during the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company’s stock valued at $19,375,000 after acquiring an additional 62,000 shares during the period. SCS Capital Management LLC purchased a new stake in Evolv Technologies in the 1st quarter worth approximately $15,061,000. Finally, Nuveen LLC purchased a new stake in Evolv Technologies in the 1st quarter worth approximately $977,000. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Trading Up 0.8%

Evolv Technologies stock opened at $6.25 on Thursday. Evolv Technologies has a 52-week low of $2.64 and a 52-week high of $8.91. The company has a market cap of $1.09 billion, a P/E ratio of -16.89 and a beta of 1.70. The company has a quick ratio of 1.20, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $7.43 and a two-hundred day simple moving average of $6.84.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. Evolv Technologies had a negative net margin of 43.76% and a negative return on equity of 55.11%. The company had revenue of $42.85 million for the quarter, compared to the consensus estimate of $33.73 million. Evolv Technologies has set its FY 2025 guidance at EPS. Analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

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.