Geode Capital Management LLC lifted its holdings in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 5.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,583,685 shares of the company's stock after buying an additional 182,757 shares during the period. Geode Capital Management LLC owned about 2.01% of Enovix worth $33,477,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in Enovix during the second quarter worth about $39,000. Prospera Private Wealth LLC acquired a new position in Enovix during the 3rd quarter worth approximately $27,000. Headlands Technologies LLC bought a new position in Enovix in the 2nd quarter valued at approximately $97,000. Voisard Asset Management Group Inc. boosted its position in Enovix by 40.0% in the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company's stock valued at $65,000 after buying an additional 2,000 shares in the last quarter. Finally, Quest Partners LLC grew its stake in shares of Enovix by 318.5% during the third quarter. Quest Partners LLC now owns 8,270 shares of the company's stock worth $77,000 after buying an additional 6,294 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors.
Enovix Stock Up 13.3 %
ENVX traded up $1.34 during midday trading on Thursday, hitting $11.42. The company had a trading volume of 7,138,684 shares, compared to its average volume of 5,627,989. The stock's 50 day moving average price is $9.57 and its 200 day moving average price is $11.18. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -7.09 and a beta of 1.94. 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 (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The business had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.11 million. During the same period in the prior year, the business earned ($0.27) EPS. On average, research analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the sale, the director now directly owns 99,497 shares in the company, valued at approximately $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 can be accessed through this link. Also, insider Arthi Chakravarthy sold 35,000 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the transaction, the insider now directly owns 343,305 shares in the company, valued at approximately $4,462,965. This represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. 15.70% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have recently commented on ENVX. JPMorgan Chase & Co. dropped their price target on Enovix from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Benchmark restated a "buy" rating and set a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Finally, Janney Montgomery Scott lowered shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price objective for the company. in a report on Thursday, October 31st. Two research 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's stock. According to data from MarketBeat.com, Enovix presently has an average rating of "Moderate Buy" and a consensus price target of $20.50.
View Our Latest Research Report on Enovix
Enovix Company Profile
(
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.
Further Reading
Before you consider Enovix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enovix wasn't on the list.
While Enovix currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
