Traders Purchase Large Volume of Call Options on Evolv Technologies (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) was the target of some unusual options trading activity on Tuesday. Investors bought 5,513 call options on the stock. This represents an increase of 1,690% compared to the average daily volume of 308 call options.

Insider Buying and Selling

In other Evolv Technologies news, Director Michael Ellenbogen sold 91,771 shares of Evolv Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $5.10, for a total transaction of $468,032.10. Following the completion of the sale, the director directly owned 2,083,961 shares in the company, valued at approximately $10,628,201.10. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors have recently made changes to their positions in EVLV. Stoic Point Capital Management LLC purchased a new stake in Evolv Technologies in the 4th quarter worth $40,724,000. Millennium Management LLC increased its holdings 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 acquiring an additional 2,766,335 shares in the last quarter. Emerald Advisers LLC purchased a new stake in Evolv Technologies in the 3rd quarter worth $19,780,000. Vanguard Group Inc. increased its holdings in Evolv Technologies by 15.0% in the 4th quarter. Vanguard Group Inc. now owns 13,784,926 shares of the company’s stock worth $98,700,000 after acquiring an additional 1,802,928 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in Evolv Technologies in the 1st quarter worth $9,722,000. 66.65% of the stock is owned by hedge funds and other institutional investors.

Evolv Technologies Price Performance

NASDAQ:EVLV opened at $6.96 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.15. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -33.14 and a beta of 1.82. The company has a 50 day moving average price of $6.08 and a 200-day moving average price of $6.35. Evolv Technologies has a 1-year low of $4.16 and a 1-year high of $8.91.

Evolv Technologies (NASDAQ:EVLV) last posted its earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04. The firm had revenue of $46.33 million during the quarter, compared to analyst estimates of $43.70 million. Evolv Technologies had a negative net margin of 22.71% and a negative return on equity of 30.45%. Equities research analysts forecast that Evolv Technologies will post -0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EVLV. Zacks Research upgraded shares of Evolv Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Evolv Technologies presently has a consensus rating of “Buy” and a consensus target price of $9.13.

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.