Enovix Co. (NASDAQ:ENVX - Get Free Report) CEO Rajendra K. Talluri sold 300,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Enovix Stock Up 3.8 %
ENVX stock traded up $0.31 during midday trading on Tuesday, hitting $8.47. The company's stock had a trading volume of 7,088,963 shares, compared to its average volume of 6,043,184. 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 52-week low of $5.70 and a 52-week high of $18.68. The firm has a market capitalization of $1.62 billion, a P/E ratio of -5.84 and a beta of 1.87. The firm has a 50-day simple moving average of $11.15 and a 200-day simple moving average of $10.22.
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, topping 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 analysts forecast that Enovix Co. will post -1.01 EPS for the current year.
Institutional Investors Weigh In On Enovix
Several institutional investors have recently modified their holdings of the company. Fluent Financial LLC purchased a new stake in shares of Enovix during the 4th quarter worth $737,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Enovix during the 4th quarter worth $2,101,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Enovix by 104.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 23,575 shares of the company's stock worth $256,000 after purchasing an additional 12,050 shares during the last quarter. Integrated Advisors Network LLC purchased a new stake in shares of Enovix during the 4th quarter worth $148,000. Finally, PharVision Advisers LLC acquired a new stake in Enovix during the 4th quarter worth $149,000. 50.92% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on ENVX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum lowered their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.
Check Out Our Latest Research Report on Enovix
About Enovix
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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.
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