50,495 Shares in Enovix Co. (NASDAQ:ENVX) Acquired by Lpwm LLC

Lpwm LLC acquired a new position in Enovix Co. (NASDAQ:ENVX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 50,495 shares of the company's stock, valued at approximately $549,000.

A number of other large investors have also recently added to or reduced their stakes in ENVX. Oppenheimer & Co. Inc. raised its holdings in shares of Enovix by 52.2% in the third quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company's stock worth $2,541,000 after acquiring an additional 93,303 shares during the last quarter. Stifel Financial Corp increased its position in Enovix by 6.2% during the 3rd 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. One Wealth Advisors LLC acquired a new position in Enovix in the 3rd quarter valued at about $700,000. Driehaus Capital Management LLC lifted its holdings in Enovix by 63.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company's stock valued at $60,085,000 after purchasing an additional 1,512,424 shares in the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of Enovix during the 2nd quarter worth about $834,000. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of the firm's 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 transaction, the director now owns 99,497 shares of the company's stock, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ENVX shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Benchmark reaffirmed a "buy" rating and issued a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on Enovix from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Finally, 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 report on Thursday, October 31st. Two investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

Enovix Trading Up 2.1 %

Shares of ENVX traded up $0.22 during trading hours on Wednesday, hitting $10.78. The stock had a trading volume of 4,326,274 shares, compared to its average volume of 9,526,981. The company's fifty day simple moving average is $9.95 and its 200 day simple moving average is $11.02. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68. 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 $1.92 billion, a P/E ratio of -6.70 and a beta of 1.86.

Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) EPS 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 company had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.11 million. During the same period last year, the business posted ($0.27) EPS. Equities research analysts forecast that Enovix Co. will post -1.17 EPS for the current fiscal year.

Enovix 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.