Neuberger Berman Group LLC reduced its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 43.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,880 shares of the company's stock after selling 153,740 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.11% of Enovix worth $2,216,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Lpwm LLC acquired a new stake in Enovix during the fourth quarter worth about $549,000. Vanguard Group Inc. raised its holdings in Enovix by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock valued at $171,458,000 after buying an additional 2,063,631 shares during the period. Stifel Financial Corp grew its stake in Enovix by 6.2% during the third quarter. Stifel Financial Corp now owns 950,202 shares of the company's stock worth $8,875,000 after buying an additional 55,094 shares during the period. Haven Private LLC acquired a new stake in shares of Enovix in the fourth quarter worth $454,000. Finally, Register Financial Advisors LLC lifted its holdings in shares of Enovix by 172.8% during the 4th quarter. Register Financial Advisors LLC now owns 174,850 shares of the company's stock valued at $1,901,000 after acquiring an additional 110,750 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company's stock.
Enovix Stock Performance
Shares of NASDAQ:ENVX traded up $0.01 on Thursday, hitting $5.84. 1,655,956 shares of the company were exchanged, compared to its average volume of 6,209,188. The company's 50 day moving average price is $8.31 and its two-hundred day moving average price is $9.75. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.04 and a beta of 1.98. 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 Co. has a one year low of $5.27 and a one year high of $18.68.
Enovix (NASDAQ:ENVX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (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 firm had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Research analysts expect that Enovix Co. will post -1.01 earnings per share for the current year.
Wall Street Analyst Weigh In
ENVX has been the topic of several analyst reports. Craig Hallum dropped their target price on Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Benchmark decreased their price target on Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.30.
Get Our Latest Report on ENVX
Insiders Place Their Bets
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 transaction of $2,805,000.00. Following the sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at $19,123,564.35. This represents a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.70% of the company's stock.
Enovix Profile
(
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.
Further Reading
Before you consider Enovix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enovix wasn't on the list.
While Enovix currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
