Intech Investment Management LLC lifted its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 74.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,439 shares of the company's stock after purchasing an additional 31,286 shares during the quarter. Intech Investment Management LLC's holdings in Enovix were worth $798,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised 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 valued at $33,477,000 after buying an additional 182,757 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Enovix by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,348,340 shares of the company's stock valued at $14,656,000 after acquiring an additional 119,288 shares during the period. Stifel Financial Corp raised its position in Enovix by 6.2% in the third quarter. Stifel Financial Corp now owns 950,202 shares of the company's stock worth $8,875,000 after purchasing an additional 55,094 shares in the last quarter. Old West Investment Management LLC boosted its holdings in 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 purchasing an additional 102,452 shares in the last quarter. Finally, Fred Alger Management LLC grew its stake in shares of 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 purchasing an additional 565,698 shares during the period. 50.92% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Craig Hallum cut their target price on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of Enovix in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.30.
Read Our Latest Analysis on ENVX
Enovix Price Performance
Shares of ENVX stock traded down $0.13 during trading hours on Thursday, hitting $8.01. 3,331,616 shares of the company's stock were exchanged, compared to its average volume of 5,983,766. The stock's 50-day moving average is $10.04 and its 200-day moving average is $10.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -5.52 and a beta of 1.93.
Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. As a group, research analysts forecast that Enovix Co. will post -1.01 EPS for the current year.
Insider Buying and Selling
In related news, CEO Rajendra K. Talluri sold 300,000 shares of Enovix stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at $19,123,564.35. This trade represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.70% of the stock is currently owned by corporate insiders.
About Enovix
(
Free Report)
Enovix Corporation designs develops and manufactures silicon-anode 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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