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

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

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 price objective on shares of Evolv Technologies in a report on Thursday, March 28th.

Evolv Technologies Price Performance

Shares of Evolv Technologies stock opened at $3.91 on Wednesday. The firm’s fifty day simple moving average is $4.09 and its 200-day simple moving average is $4.30. The stock has a market capitalization of $608.32 million, a price-to-earnings ratio of -5.36 and a beta of 1.35. Evolv Technologies has a 12 month low of $3.28 and a 12 month high of $8.30.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Evolv Technologies had a negative net margin of 132.13% and a negative return on equity of 47.56%. The business had revenue of $21.82 million for the quarter, compared to analysts’ expectations of $18.81 million. Analysts anticipate that Evolv Technologies will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other Evolv Technologies news, insider Michael Ellenbogen sold 54,873 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $5.04, for a total transaction of $276,559.92. Following the completion of the transaction, the insider now owns 1,975,473 shares of the company’s stock, valued at $9,956,383.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director David Mounts Gonzales bought 50,000 shares of Evolv Technologies stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $3.86 per share, with a total value of $193,000.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at $193,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Ellenbogen sold 54,873 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $5.04, for a total transaction of $276,559.92. Following the completion of the sale, the insider now directly owns 1,975,473 shares in the company, valued at approximately $9,956,383.92. The disclosure for this sale can be found here. 10.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sapient Capital LLC purchased a new position in Evolv Technologies in the 4th quarter valued at $3,188,000. HighTower Advisors LLC grew its position in Evolv Technologies by 1.5% in the 3rd quarter. HighTower Advisors LLC now owns 171,397 shares of the company’s stock valued at $833,000 after buying an additional 2,489 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Evolv Technologies in the 3rd quarter valued at $2,138,000. Key Colony Management LLC grew its position in Evolv Technologies by 157.8% in the 4th quarter. Key Colony Management LLC now owns 2,781,928 shares of the company’s stock valued at $13,131,000 after buying an additional 1,702,928 shares during the last quarter. Finally, Quent Capital LLC grew its position in Evolv Technologies by 53.8% in the 4th quarter. Quent Capital LLC now owns 20,000 shares of the company’s stock valued at $94,000 after buying an additional 7,000 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

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.