SG Americas Securities LLC Sells 28,598 Shares of Enovix Co. (NASDAQ:ENVX)

SG Americas Securities LLC reduced its holdings in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 60.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,391 shares of the company's stock after selling 28,598 shares during the quarter. SG Americas Securities LLC's holdings in Enovix were worth $200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENVX. Fred Alger Management LLC increased its stake in Enovix by 2,468.6% in the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company's stock valued at $5,498,000 after buying an additional 565,698 shares during the last quarter. Sora Investors LLC lifted its position in Enovix by 75.0% in the third quarter. Sora Investors LLC now owns 525,000 shares of the company's stock valued at $4,904,000 after purchasing an additional 225,000 shares during the last quarter. Barclays PLC boosted its holdings in shares of Enovix by 376.9% during the third quarter. Barclays PLC now owns 252,012 shares of the company's stock worth $2,353,000 after purchasing an additional 199,166 shares during the period. Geode Capital Management LLC grew its stake in shares of Enovix by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company's stock worth $33,477,000 after buying an additional 182,757 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in Enovix in the 3rd quarter valued at approximately $1,066,000. Institutional investors and hedge funds own 50.92% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ENVX shares. Janney Montgomery Scott downgraded Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price objective for the company. in a research note on Thursday, October 31st. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of Enovix in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut 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. Finally, Benchmark reissued a "buy" rating and issued a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $20.50.

Insider Activity

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the sale, the director now owns 99,497 shares in the company, valued at $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 15.70% of the stock is currently owned by corporate insiders.

Enovix Stock Performance

Enovix stock traded down $1.22 on Tuesday, reaching $10.57. 7,584,245 shares of the stock were exchanged, compared to its average volume of 7,038,050. 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 firm has a fifty day moving average price of $10.86 and a two-hundred day moving average price of $10.39. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The stock has a market cap of $1.88 billion, a PE ratio of -6.57 and a beta of 1.87.

Enovix Company Profile

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.