Old West Investment Management LLC trimmed its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 16.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 780,564 shares of the company's stock after selling 157,274 shares during the quarter. Enovix comprises approximately 3.4% of Old West Investment Management LLC's holdings, making the stock its 11th biggest position. Old West Investment Management LLC owned about 0.44% of Enovix worth $8,485,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock valued at $27,000 after purchasing an additional 1,000 shares during the period. Sava Infond d.o.o. bought a new stake in shares of Enovix during the fourth quarter valued at approximately $43,000. Hollencrest Capital Management lifted its holdings in shares of Enovix by 61.4% in the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock worth $57,000 after buying an additional 2,000 shares in the last quarter. R Squared Ltd bought a new position in shares of Enovix during the fourth quarter worth $64,000. Finally, Lee Danner & Bass Inc. purchased a new position in Enovix during the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 50.92% of the company's stock.
Insider Activity
In other news, CEO Rajendra K. Talluri sold 300,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,045,301 shares of the company's stock, valued at approximately $19,123,564.35. The trade was 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 this link. Insiders own 15.70% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on ENVX shares. Craig Hallum cut their price objective 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 reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.30.
Read Our Latest Research Report on Enovix
Enovix Trading Down 4.8 %
NASDAQ:ENVX traded down $0.30 during midday trading on Monday, hitting $6.01. 8,957,727 shares of the company traded hands, compared to its average volume of 6,151,580. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The firm's fifty day moving average is $9.36 and its 200-day moving average is $9.96. The firm has a market capitalization of $1.15 billion, a P/E ratio of -4.14 and a beta of 1.98. Enovix Co. has a 12-month low of $5.66 and a 12-month high of $18.68.
Enovix (NASDAQ:ENVX - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. The firm had revenue of $9.72 million during the quarter, compared to analyst estimates of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. On average, sell-side analysts predict that Enovix Co. will post -1.01 EPS for the current year.
Enovix Company 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.
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