Stock Traders Purchase 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. Traders acquired 5,513 call options on the stock. This represents an increase of approximately 1,690% compared to the typical daily volume of 308 call options.

Analyst Ratings Changes

Separately, Lake Street Capital raised their price objective on Evolv Technologies from $2.75 to $4.00 and gave the company a “hold” rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.08.

Evolv Technologies Stock Up 0.7%

Shares of NASDAQ EVLV opened at $4.43 on Wednesday. The firm’s fifty day moving average is $3.43 and its 200 day moving average is $3.48. Evolv Technologies has a 52 week low of $2.04 and a 52 week high of $4.65. The company has a market cap of $724.17 million, a price-to-earnings ratio of -31.64 and a beta of 1.61.

Hedge Funds Weigh In On Evolv Technologies

Several hedge funds and other institutional investors have recently modified their holdings of EVLV. Autumn Glory Partners LLC purchased a new stake in shares of Evolv Technologies during the fourth quarter worth about $40,000. B. Riley Wealth Advisors Inc. bought a new stake in Evolv Technologies in the fourth quarter valued at $40,000. Cibc World Markets Corp purchased a new position in Evolv Technologies during the 4th quarter valued at $49,000. Teacher Retirement System of Texas bought a new position in Evolv Technologies in the 1st quarter worth $50,000. Finally, Clare Market Investments LLC bought a new stake in shares of Evolv Technologies during the 4th quarter valued at about $71,000. 66.65% of the stock is owned by 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.