Handelsbanken Fonder AB Has $14.26 Million Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Handelsbanken Fonder AB lessened its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,311,520 shares of the company's stock after selling 231,619 shares during the period. Handelsbanken Fonder AB owned about 0.74% of Enovix worth $14,256,000 at the end of the most recent quarter.

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

Enovix Price Performance

Shares of Enovix stock traded down $0.35 on Tuesday, reaching $9.48. 5,556,572 shares of the stock were exchanged, compared to its average volume of 7,111,446. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The firm has a market cap of $1.69 billion, a PE ratio of -6.55 and a beta of 1.87. The firm's 50 day moving average is $11.17 and its 200-day moving average is $10.28. Enovix Co. has a one year low of $5.70 and a one year high of $18.68.

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Enovix (NASDAQ:ENVX - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The firm had revenue of $9.72 million during the quarter, compared to analysts' expectations of $8.77 million. As a group, analysts anticipate that Enovix Co. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the firm's stock in a transaction that occurred 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 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 filing with the SEC, which is available at this link. Company insiders own 15.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Benchmark reiterated a "buy" rating and set a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Craig Hallum decreased their price objective on Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. Finally, Janney Montgomery Scott downgraded shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price target on the stock. in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.30.

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.