One Wealth Advisors LLC acquired a new position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 75,000 shares of the company's stock, valued at approximately $700,000.
A number of other hedge funds have also modified their holdings of ENVX. Vanguard Group Inc. grew its position in Enovix by 1.3% in the first quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company's stock valued at $104,881,000 after purchasing an additional 164,717 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of 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 acquiring an additional 1,512,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Enovix by 2,228.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company's stock valued at $11,518,000 after acquiring an additional 1,376,253 shares during the last quarter. Masters Capital Management LLC increased its position in shares of Enovix by 3.8% in the first quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company's stock valued at $10,814,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Old West Investment Management LLC raised its holdings in Enovix by 47.6% during the second quarter. Old West Investment Management LLC now owns 835,386 shares of the company's stock worth $12,915,000 after acquiring an additional 269,371 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors.
Enovix Stock Performance
Shares of ENVX stock traded up $0.34 during midday trading on Thursday, hitting $11.43. 4,690,569 shares of the company were exchanged, compared to its average volume of 5,491,875. The firm has a market capitalization of $1.94 billion, a P/E ratio of -8.53 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68. The firm's 50 day moving average price is $9.97 and its two-hundred day moving average price is $10.83.
Enovix (NASDAQ:ENVX - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $3.77 million for the quarter, compared to the consensus estimate of $3.85 million. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. As a group, equities research analysts anticipate that Enovix Co. will post -1.21 earnings per share for the current year.
Wall Street Analyst Weigh In
ENVX has been the topic of several recent analyst reports. Craig Hallum boosted their price target on Enovix from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Benchmark began coverage on shares of Enovix in a report on Monday, July 22nd. They set a "buy" rating and a $25.00 target price on the stock. TD Cowen increased their price target on shares of Enovix from $11.00 to $14.00 and gave the company a "hold" rating in a research note on Thursday, August 1st. Oppenheimer restated an "outperform" rating and set a $36.00 price objective on shares of Enovix in a research note on Monday, August 26th. Finally, Canaccord Genuity Group upped their target price on shares of Enovix from $17.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $21.33.
Read Our Latest Research Report on ENVX
Insiders Place Their Bets
In other news, insider Arthi Chakravarthy sold 35,000 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the sale, the insider now owns 343,305 shares of the company's stock, valued at approximately $4,462,965. The trade was a 0.00 % 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. Company insiders own 17.30% of the company's stock.
About Enovix
(
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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