LJI Wealth Management LLC cut its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 35.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,900 shares of the company's stock after selling 26,000 shares during the period. LJI Wealth Management LLC's holdings in Enovix were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of ENVX. Prospera Private Wealth LLC purchased a new stake in shares of Enovix during the 3rd quarter worth approximately $27,000. Fifth Third Bancorp lifted its position in Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. R Squared Ltd purchased a new position in shares of Enovix during the fourth quarter worth about $64,000. Voisard Asset Management Group Inc. increased its position in shares of Enovix by 40.0% during the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company's stock worth $65,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of Enovix by 318.5% in the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company's stock valued at $77,000 after purchasing an additional 6,294 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on ENVX. JPMorgan Chase & Co. cut their price target on Enovix from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 22nd. Janney Montgomery Scott lowered shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 target price on the stock. in a research report on Thursday, October 31st. Benchmark reiterated a "buy" rating and issued a $25.00 price target on shares of Enovix in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Two equities research 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 stock. According to data from MarketBeat, Enovix has a consensus rating of "Moderate Buy" and an average target price of $20.50.
Read Our Latest Research Report on ENVX
Insider Buying and Selling at Enovix
In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the sale, the director now directly owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.70% of the stock is owned by corporate insiders.
Enovix Stock Performance
Shares of NASDAQ:ENVX traded up $0.33 during midday trading on Wednesday, hitting $10.90. The stock had a trading volume of 5,724,717 shares, compared to its average volume of 6,992,440. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. 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 stock has a 50 day moving average price of $10.89 and a two-hundred day moving average price of $10.37. The company has a market capitalization of $1.94 billion, a PE ratio of -6.77 and a beta of 1.87.
About Enovix
(
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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