Sonora Investment Management Group LLC Acquires 25,271 Shares of Enovix Co. (NASDAQ:ENVX)

Sonora Investment Management Group LLC raised its stake in Enovix Co. (NASDAQ:ENVX - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 275,901 shares of the company's stock after acquiring an additional 25,271 shares during the quarter. Sonora Investment Management Group LLC owned about 0.16% of Enovix worth $2,999,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Enovix by 5.4% in the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company's stock valued at $33,477,000 after acquiring an additional 182,757 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Enovix by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the company's stock worth $11,479,000 after purchasing an additional 73,320 shares in the last quarter. Stifel Financial Corp grew its position in shares of Enovix by 6.2% during the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company's stock worth $8,875,000 after purchasing an additional 55,094 shares in the last quarter. Old West Investment Management LLC increased its holdings in shares of Enovix by 12.3% during the third quarter. Old West Investment Management LLC now owns 937,838 shares of the company's stock worth $8,759,000 after purchasing an additional 102,452 shares during the period. Finally, Fred Alger Management LLC raised its position in shares of Enovix by 2,468.6% in the third quarter. Fred Alger Management LLC now owns 588,614 shares of the company's stock valued at $5,498,000 after buying an additional 565,698 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Trading Down 1.8 %

Shares of Enovix stock traded down $0.22 on Monday, hitting $11.84. The stock had a trading volume of 4,574,454 shares, compared to its average volume of 7,482,405. The stock has a 50 day moving average of $10.58 and a 200 day moving average of $10.55. 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 twelve month low of $5.70 and a twelve month high of $18.68. The firm has a market capitalization of $2.11 billion, a P/E ratio of -7.35 and a beta of 1.87.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Benchmark restated a "buy" rating and set a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Janney Montgomery Scott downgraded Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price target for the company. in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Enovix from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. Two research analysts have 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 "Moderate Buy" and a consensus price target of $20.50.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 75,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the sale, the director now directly owns 99,497 shares of the company's stock, valued at approximately $968,105.81. This represents a 42.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 15.70% of the company's stock.

Enovix Profile

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.