Raymond James Financial Inc. Makes New $3.48 Million Investment in Enovix Co. (NASDAQ:ENVX)

Raymond James Financial Inc. bought a new position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 320,558 shares of the company's stock, valued at approximately $3,484,000. Raymond James Financial Inc. owned about 0.18% of Enovix at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp lifted its position in Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock worth $27,000 after buying an additional 1,000 shares in the last quarter. R Squared Ltd purchased a new position in Enovix during the fourth quarter worth about $64,000. Quest Partners LLC boosted its holdings in Enovix by 318.5% in the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company's stock valued at $77,000 after purchasing an additional 6,294 shares during the last quarter. SRS Capital Advisors Inc. acquired a new stake in shares of Enovix during the 4th quarter worth approximately $87,000. Finally, KBC Group NV raised its position in shares of Enovix by 85.0% during the 4th quarter. KBC Group NV now owns 9,139 shares of the company's stock valued at $99,000 after buying an additional 4,200 shares during the period. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on ENVX shares. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. 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. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Enovix presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

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Insider Buying and Selling at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,045,301 shares of the company's stock, valued at approximately $19,123,564.35. This represents a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 15.70% of the company's stock.

Enovix Stock Down 6.6 %

Shares of NASDAQ ENVX traded down $0.53 during mid-day trading on Friday, hitting $7.48. The company had a trading volume of 5,454,585 shares, compared to its average volume of 6,044,923. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. The company has a market capitalization of $1.43 billion, a PE ratio of -5.16 and a beta of 1.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The business's 50-day simple moving average is $9.92 and its 200 day simple moving average is $10.04.

Enovix (NASDAQ:ENVX - Get Free Report) last announced 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. The business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. On average, analysts predict that Enovix Co. will post -1.01 earnings per share for the current year.

Enovix Profile

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.