Haven Private LLC purchased a new stake in shares of Enovix Co. (NASDAQ:ENVX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,748 shares of the company's stock, valued at approximately $454,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Enovix by 34.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,077 shares of the company's stock valued at $188,000 after buying an additional 5,162 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Enovix by 9.2% in the third quarter. Janney Montgomery Scott LLC now owns 133,002 shares of the company's stock valued at $1,242,000 after acquiring an additional 11,242 shares in the last quarter. Old West Investment Management LLC increased its stake in shares of 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 acquiring an additional 102,452 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Enovix by 10.5% during the third quarter. Concurrent Investment Advisors LLC now owns 35,458 shares of the company's stock worth $331,000 after purchasing an additional 3,375 shares in the last quarter. Finally, Financial Enhancement Group LLC acquired a new stake in Enovix in the third quarter worth approximately $936,000. 50.92% of the stock is currently owned by institutional investors.
Enovix Stock Down 5.1 %
Shares of ENVX stock traded down $0.40 during trading on Tuesday, hitting $7.45. 7,227,306 shares of the company were exchanged, compared to its average volume of 6,072,010. The business's 50-day simple moving average is $10.95 and its 200 day simple moving average is $10.17. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -5.14 and a beta of 1.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77.
Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The business had revenue of $9.72 million for the quarter, compared to analysts' expectations of $8.77 million. As a group, analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum reduced their price objective on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.
Read Our Latest Stock Report on ENVX
Insider Transactions at Enovix
In related news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the transaction, the chief executive officer now owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 15.70% of the company's stock.
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.
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