Traders Buy Large Volume of Call Options on Evolv Technologies (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of some unusual options trading activity on Tuesday. Investors bought 5,513 call options on the stock. This represents an increase of 1,690% compared to the typical daily volume of 308 call options.

Insider Activity

In other news, major shareholder Gates Frontier, Llc sold 776,236 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the sale, the insider directly owned 17,189,096 shares in the company, valued at $140,950,587.20. This trade represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil Chitkara sold 120,000 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $8.20, for a total transaction of $984,000.00. Following the sale, the insider owned 1,275,100 shares in the company, valued at $10,455,820. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,911,445 shares of company stock worth $15,560,635 in the last three months. Company insiders own 11.30% of the company’s stock.

Institutional Trading of Evolv Technologies

A number of large investors have recently made changes to their positions in EVLV. CW Advisors LLC boosted its position in Evolv Technologies by 19.0% in the 2nd 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 during the period. BNP Paribas Financial Markets boosted its position in Evolv Technologies by 38.3% in the 2nd 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 during the period. American Century Companies Inc. boosted its position in Evolv Technologies by 6.1% in the 1st 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 during the period. MetLife Investment Management LLC boosted its position in Evolv Technologies by 5.1% in the 1st quarter. MetLife Investment Management LLC now owns 91,042 shares of the company’s stock valued at $284,000 after buying an additional 4,412 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Evolv Technologies by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,928 shares of the company’s stock valued at $249,000 after buying an additional 5,050 shares during the period. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Stock Up 1.0%

Evolv Technologies stock opened at $8.15 on Wednesday. The company’s 50-day moving average price is $8.07 and its 200-day moving average price is $6.41. Evolv Technologies has a twelve month low of $2.04 and a twelve month high of $8.91. The company has a market cap of $1.40 billion, a PE ratio of -14.82 and a beta of 1.69.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Evolv Technologies will post -0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evolv Technologies in a report on Wednesday, October 8th. Lake Street Capital upgraded shares of Evolv Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $5.50 to $9.00 in a report on Friday, August 15th. Zacks Research upgraded shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Cantor Fitzgerald lifted their price target on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, August 15th. Finally, TD Cowen reiterated a “buy” rating and issued a $10.00 price target on shares of Evolv Technologies in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.88.

About Evolv Technologies

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.