Enovis Co. (NYSE:ENOV) Sees Large Decline in Short Interest

Enovis Co. (NYSE:ENOV - Get Free Report) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 5,000,000 shares, a decline of 5.1% from the January 15th total of 5,270,000 shares. Based on an average daily volume of 810,800 shares, the days-to-cover ratio is currently 6.2 days. Currently, 9.0% of the company's shares are sold short.

Enovis Stock Down 2.6 %

Enovis stock traded down $1.14 during midday trading on Friday, hitting $42.77. 458,733 shares of the company were exchanged, compared to its average volume of 963,719. The company's fifty day moving average price is $45.15 and its 200-day moving average price is $44.33. The company has a market cap of $2.43 billion, a PE ratio of -19.53 and a beta of 1.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. Enovis has a fifty-two week low of $38.27 and a fifty-two week high of $65.03.

Hedge Funds Weigh In On Enovis

Institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Enovis in the 4th quarter valued at approximately $29,000. Quadrant Capital Group LLC raised its position in shares of Enovis by 53.0% in the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock valued at $30,000 after purchasing an additional 239 shares in the last quarter. UMB Bank n.a. raised its position in shares of Enovis by 128.2% in the 4th quarter. UMB Bank n.a. now owns 778 shares of the company's stock valued at $34,000 after purchasing an additional 437 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Enovis by 54.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Quarry LP raised its position in shares of Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company's stock valued at $39,000 after purchasing an additional 749 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a "buy" rating and set a $65.00 target price on shares of Enovis in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Enovis has a consensus rating of "Moderate Buy" and a consensus price target of $64.83.

Enovis Company Profile

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.