DnB Asset Management AS Has $1.63 Million Stock Position in Enovix Co. (NASDAQ:ENVX)

DnB Asset Management AS raised its holdings in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,308 shares of the company's stock after purchasing an additional 47,578 shares during the period. DnB Asset Management AS owned about 0.08% of Enovix worth $1,634,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fifth Third Bancorp grew its position in shares of Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock valued at $27,000 after buying an additional 1,000 shares during the last quarter. Sava Infond d.o.o. acquired a new stake in shares of Enovix during the 4th quarter worth approximately $43,000. Hollencrest Capital Management raised its position in shares of Enovix by 61.4% during the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock worth $57,000 after purchasing an additional 2,000 shares during the period. R Squared Ltd bought a new stake in shares of Enovix in the 4th quarter worth approximately $64,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Enovix in the 4th quarter worth approximately $65,000. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business'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 sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.70% of the company's stock.

Enovix Price Performance

ENVX traded down $0.32 on Friday, reaching $6.31. The company had a trading volume of 9,146,942 shares, compared to its average volume of 6,140,307. The company has a market capitalization of $1.21 billion, a P/E ratio of -4.35 and a beta of 1.98. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $9.46 and a 200-day moving average of $9.97. Enovix Co. has a one year low of $5.69 and a one year high of $18.68.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The business had revenue of $9.72 million during the quarter, compared to analysts' expectations of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. As a group, equities research analysts anticipate that Enovix Co. will post -1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ENVX. Craig Hallum reduced their price target on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.

Enovix Company Profile

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.