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. Stock traders purchased 5,513 call options on the company. This represents an increase of approximately 1,690% compared to the typical daily volume of 308 call options.

Analysts Set New Price Targets

Several research firms recently commented on EVLV. Lake Street Capital lifted their price objective on Evolv Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Zacks Research raised shares of Evolv Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.13.

Insider Activity

In related news, Director Kevin M. Charlton acquired 15,000 shares of Evolv Technologies stock in a transaction on Friday, November 21st. The shares were acquired at an average cost of $5.68 per share, with a total value of $85,200.00. Following the transaction, the director owned 44,081 shares in the company, valued at $250,380.08. This trade represents a 51.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Shapiro bought 30,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was bought at an average cost of $6.00 per share, with a total value of $180,000.00. Following the completion of the transaction, the director owned 52,515 shares in the company, valued at approximately $315,090. This trade represents a 133.24% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 61,300 shares of company stock valued at $363,326 and sold 440,745 shares valued at $3,618,954. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Evolv Technologies by 17.1% during the third quarter. Vanguard Group Inc. now owns 11,981,998 shares of the company’s stock worth $90,464,000 after buying an additional 1,750,073 shares during the period. SCS Capital Management LLC bought a new position in Evolv Technologies during the 1st quarter valued at about $15,061,000. Millennium Management LLC raised its position in Evolv Technologies by 194.6% in the 3rd quarter. Millennium Management LLC now owns 4,187,604 shares of the company’s stock worth $31,616,000 after purchasing an additional 2,766,335 shares during the period. Marshall Wace LLP lifted its stake in Evolv Technologies by 74.4% in the second quarter. Marshall Wace LLP now owns 3,899,155 shares of the company’s stock worth $24,331,000 after purchasing an additional 1,662,797 shares during the last quarter. Finally, Key Colony Management LLC boosted its position in shares of Evolv Technologies by 5.5% during the third quarter. Key Colony Management LLC now owns 3,275,095 shares of the company’s stock valued at $24,727,000 after buying an additional 170,095 shares during the period. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Price Performance

NASDAQ EVLV opened at $6.65 on Thursday. The company has a 50-day moving average price of $6.95 and a 200-day moving average price of $7.03. Evolv Technologies has a 52 week low of $2.64 and a 52 week high of $8.91. The company has a quick ratio of 1.20, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.16 billion, a P/E ratio of -17.98 and a beta of 1.85.

Evolv Technologies (NASDAQ:EVLV) last announced its earnings results on Thursday, November 13th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. Evolv Technologies had a negative return on equity of 55.11% and a negative net margin of 43.76%.The company had revenue of $42.85 million for the quarter, compared to analysts’ expectations of $33.73 million. Equities research analysts anticipate that Evolv Technologies will post -0.27 earnings per share for the current year.

About Evolv Technologies

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.