Oppenheimer & Co. Inc. lifted its stake in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 52.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 272,047 shares of the company's stock after buying an additional 93,303 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.15% of Enovix worth $2,541,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also bought and sold shares of ENVX. Vanguard Group Inc. increased its position in shares of Enovix by 1.3% in the first quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company's stock valued at $104,881,000 after acquiring an additional 164,717 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Enovix by 63.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company's stock valued at $60,085,000 after acquiring an additional 1,512,424 shares during the period. Masters Capital Management LLC lifted its position in shares of Enovix by 3.8% in the first quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company's stock valued at $10,814,000 after acquiring an additional 50,000 shares in the last quarter. Old West Investment Management LLC lifted its position in Enovix by 12.3% during 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 last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Enovix by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 573,026 shares of the company's stock valued at $8,859,000 after purchasing an additional 69,098 shares during the period. Institutional investors and hedge funds own 50.92% of the company's stock.
Insider Buying and Selling
In other news, insider Arthi Chakravarthy sold 35,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the sale, the insider now owns 343,305 shares in the company, valued at $4,462,965. This represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.70% of the stock is owned by company insiders.
Enovix Stock Performance
NASDAQ ENVX traded down $0.37 during trading on Friday, reaching $8.48. 4,403,857 shares of the company's stock were exchanged, compared to its average volume of 7,310,841. The business has a 50 day moving average price of $9.98 and a 200-day moving average price of $11.29. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61.
Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The company had revenue of $4.30 million for the quarter, compared to analyst estimates of $4.11 million. During the same period in the prior year, the firm posted ($0.27) EPS. As a group, equities research analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms have issued reports on ENVX. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of Enovix in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on Enovix from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. Canaccord Genuity Group upped their price objective on Enovix from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Benchmark reaffirmed a "buy" rating and set a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Finally, TD Cowen lifted their target price on shares of Enovix from $11.00 to $14.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.50.
Check Out Our Latest Stock Report on Enovix
Enovix Company Profile
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Free Report)
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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