CenterBook Partners LP trimmed its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,015,261 shares of the company's stock after selling 230,067 shares during the quarter. CenterBook Partners LP owned 0.57% of Enovix worth $11,036,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Enovix by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock worth $171,458,000 after purchasing an additional 2,063,631 shares in the last quarter. Geode Capital Management LLC grew its position in Enovix by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock valued at $41,520,000 after acquiring an additional 235,142 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Enovix by 9.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,348,340 shares of the company's stock valued at $14,656,000 after purchasing an additional 119,288 shares during the period. Stifel Financial Corp lifted its position in shares of Enovix by 6.2% during the third quarter. Stifel Financial Corp now owns 950,202 shares of the company's stock worth $8,875,000 after purchasing an additional 55,094 shares in the last quarter. Finally, Old West Investment Management LLC boosted its stake in shares of Enovix by 12.3% in the third quarter. Old West Investment Management LLC now owns 937,838 shares of the company's stock valued at $8,759,000 after purchasing an additional 102,452 shares during the period. 50.92% of the stock is owned by institutional investors and hedge funds.
Enovix Stock Performance
ENVX stock traded down $0.05 during midday trading on Monday, reaching $5.93. The company had a trading volume of 2,492,361 shares, compared to its average volume of 6,238,589. The firm has a market capitalization of $1.13 billion, a PE ratio of -4.09 and a beta of 1.98. The stock has a 50 day moving average price of $8.66 and a 200 day moving average price of $9.83. Enovix Co. has a fifty-two week low of $5.27 and a fifty-two week high of $18.68. 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 (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The business had revenue of $9.72 million during the quarter, compared to analyst estimates of $8.77 million. Analysts anticipate that Enovix Co. will post -1.01 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on ENVX shares. Craig Hallum dropped their target price on Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of Enovix in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.
Check Out Our Latest Research Report on Enovix
Insider Activity
In related news, CEO Rajendra K. Talluri sold 300,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the sale, the chief executive officer now owns 2,045,301 shares of the company's stock, valued at $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 15.70% of the company's stock.
Enovix Company Profile
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Free Report)
Enovix Corporation designs develops and manufactures silicon-anode 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.
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