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

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

Wall Street Analyst Weigh In

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

Evolv Technologies Trading Down 2.3 %

EVLV traded down $0.09 during trading on Wednesday, reaching $3.85. The stock had a trading volume of 672,948 shares, compared to its average volume of 1,495,287. Evolv Technologies has a one year low of $2.96 and a one year high of $8.30. The stock’s 50 day moving average is $4.31 and its two-hundred day moving average is $4.33. The company has a market capitalization of $585.89 million, a price-to-earnings ratio of -5.38 and a beta of 1.35.

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

Insider Activity

In other news, insider Michael Ellenbogen sold 54,873 shares of the 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 completion of the sale, the insider now owns 1,975,473 shares of the company’s stock, valued at $9,956,383.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Michael Ellenbogen sold 54,873 shares of the 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 completion of the sale, the insider now owns 1,975,473 shares of the company’s stock, valued at $9,956,383.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the insider now directly owns 1,200,157 shares of the company’s stock, valued at approximately $6,000,785. The disclosure for this sale can be found here. Insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Evolv Technologies by 35.3% during the second quarter. BlackRock Inc. now owns 7,068,731 shares of the company’s stock valued at $42,412,000 after acquiring an additional 1,844,116 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Evolv Technologies by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 6,786,566 shares of the company’s stock valued at $32,033,000 after acquiring an additional 256,139 shares in the last quarter. Glenview Capital Management LLC increased its holdings in shares of Evolv Technologies by 21.7% during the fourth quarter. Glenview Capital Management LLC now owns 5,599,039 shares of the company’s stock valued at $26,427,000 after acquiring an additional 1,000,000 shares in the last quarter. Edge Capital Group LLC increased its holdings in shares of Evolv Technologies by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 4,819,327 shares of the company’s stock valued at $22,747,000 after acquiring an additional 56,500 shares in the last quarter. Finally, Key Colony Management LLC increased its holdings in shares of Evolv Technologies by 64.5% during the first quarter. Key Colony Management LLC now owns 4,577,027 shares of the company’s stock valued at $20,368,000 after acquiring an additional 1,795,099 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors.

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.