Barclays PLC Has $2.35 Million Stake in Enovix Co. (NASDAQ:ENVX)

Barclays PLC lifted its holdings in Enovix Co. (NASDAQ:ENVX - Free Report) by 376.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,012 shares of the company's stock after acquiring an additional 199,166 shares during the quarter. Barclays PLC owned approximately 0.14% of Enovix worth $2,353,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hodges Capital Management Inc. acquired a new position in Enovix in the third quarter worth $528,000. Sora Investors LLC lifted its position in Enovix by 75.0% during the 3rd quarter. Sora Investors LLC now owns 525,000 shares of the company's stock worth $4,904,000 after buying an additional 225,000 shares in the last quarter. Stifel Financial Corp grew its holdings in Enovix by 6.2% during the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company's stock worth $8,875,000 after acquiring an additional 55,094 shares during the last quarter. Reynders McVeigh Capital Management LLC increased its position in Enovix by 32.4% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 195,362 shares of the company's stock valued at $1,825,000 after acquiring an additional 47,835 shares in the last quarter. Finally, Maven Securities LTD bought a new position in shares of Enovix in the third quarter worth about $280,000. 50.92% of the stock is currently owned by institutional investors.

Enovix Trading Up 13.3 %

NASDAQ ENVX traded up $1.34 during trading on Thursday, reaching $11.42. 7,138,684 shares of the stock traded hands, compared to its average volume of 5,627,989. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The stock's 50-day moving average price is $9.57 and its 200 day moving average price is $11.18. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -7.09 and a beta of 1.94.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The firm had revenue of $4.30 million during the quarter, compared to analysts' expectations of $4.11 million. During the same period in the previous year, the firm earned ($0.27) earnings per share. Analysts predict that Enovix Co. will post -1.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ENVX. Janney Montgomery Scott lowered shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price target for the company. in a report on Thursday, October 31st. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Benchmark reiterated a "buy" rating and issued a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Enovix from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.50.

Insider Buying and Selling at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the sale, the director now owns 99,497 shares in the company, valued at $968,105.81. This represents a 42.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Arthi Chakravarthy sold 35,000 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the completion of the sale, the insider now owns 343,305 shares of the company's stock, valued at $4,462,965. This trade represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.70% of the company's stock.

Enovix Profile

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.