Traders Purchase High Volume of Evolv Technologies Call Options (NASDAQ:EVLV)

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

Insider Transactions at Evolv Technologies

In other Evolv Technologies news, Director Michael Ellenbogen sold 80,745 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $8.26, for a total value of $666,953.70. Following the transaction, the director directly owned 2,083,961 shares in the company, valued at $17,213,517.86. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was 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 of the company’s stock, valued at approximately $140,950,587.20. The trade was a 4.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,911,445 shares of company stock valued at $15,560,635. 11.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EVLV. CW Advisors LLC bought a new stake in shares of Evolv Technologies during the first quarter worth $33,000. Teacher Retirement System of Texas acquired a new position in Evolv Technologies in the 1st quarter worth $50,000. PDT Partners LLC bought a new position in Evolv Technologies during the 1st quarter worth about $57,000. SouthState Corp increased its holdings in Evolv Technologies by 420.1% during the 1st quarter. SouthState Corp now owns 18,571 shares of the company’s stock worth $58,000 after purchasing an additional 15,000 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Evolv Technologies in the 3rd quarter valued at about $60,000. Institutional investors own 66.65% of the company’s stock.

Analyst Ratings Changes

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

Evolv Technologies Trading Down 4.5%

Shares of Evolv Technologies stock opened at $6.72 on Thursday. The stock’s fifty day simple moving average is $7.87 and its 200 day simple moving average is $6.71. The company has a market capitalization of $1.16 billion, a PE ratio of -12.22 and a beta of 1.70. Evolv Technologies has a 12 month low of $2.45 and a 12 month high of $8.91.

Evolv Technologies (NASDAQ:EVLV) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share (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 the consensus estimate of $30.95 million. Analysts predict that Evolv Technologies will post -0.27 EPS for the current fiscal 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.