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

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 5,513 call options on the company. This is an increase of approximately 1,690% compared to the average volume of 308 call options.

Evolv Technologies Stock Down 2.3 %

Shares of EVLV stock traded down $0.09 during trading hours on Wednesday, hitting $3.85. 659,740 shares of the company’s stock were exchanged, compared to its average volume of 1,496,405. The firm has a market cap of $585.89 million, a P/E ratio of -5.38 and a beta of 1.35. The firm has a 50 day moving average of $4.31 and a two-hundred day moving average of $4.33. Evolv Technologies has a fifty-two week low of $2.96 and a fifty-two week high of $8.30.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $21.82 million during the quarter, compared to the consensus estimate of $18.81 million. Evolv Technologies had a negative return on equity of 47.56% and a negative net margin of 132.13%. On average, equities analysts forecast that Evolv Technologies will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Anil Chitkara sold 50,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the transaction, the insider now owns 1,200,157 shares in the company, valued at approximately $6,000,785. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Evolv Technologies news, insider Anil Chitkara sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the sale, the insider now owns 1,200,157 shares in the company, valued at approximately $6,000,785. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $5.04, for a total transaction of $276,559.92. Following the sale, the insider now owns 1,975,473 shares in the company, valued at approximately $9,956,383.92. The disclosure for this sale can be found here. Insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVLV. MCF Advisors LLC increased its position in shares of Evolv Technologies by 84.5% during the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock worth $29,000 after purchasing an additional 3,000 shares during the last quarter. Key Colony Management LLC increased its position in shares of Evolv Technologies by 64.5% during the 1st quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock worth $20,368,000 after purchasing an additional 1,795,099 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Evolv Technologies by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 6,786,566 shares of the company’s stock worth $32,033,000 after purchasing an additional 256,139 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Evolv Technologies by 67.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 331,214 shares of the company’s stock worth $1,563,000 after purchasing an additional 133,990 shares during the last quarter. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of Evolv Technologies during the 4th quarter worth about $71,000. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Analysts Set New Price Targets

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

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.