Strong Tower Advisory Services Has $811,000 Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Strong Tower Advisory Services increased its position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 167.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 74,610 shares of the company's stock after purchasing an additional 46,722 shares during the quarter. Strong Tower Advisory Services' holdings in Enovix were worth $811,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Udine Wealth Management Inc. grew its position in shares of Enovix by 1.7% in the fourth quarter. Udine Wealth Management Inc. now owns 207,040 shares of the company's stock valued at $2,251,000 after purchasing an additional 3,556 shares during the period. HB Wealth Management LLC lifted its stake in shares of Enovix by 63.0% during the fourth quarter. HB Wealth Management LLC now owns 16,628 shares of the company's stock worth $181,000 after purchasing an additional 6,426 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Enovix by 6.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company's stock worth $228,000 after acquiring an additional 1,214 shares during the period. Channel Wealth LLC grew its holdings in Enovix by 12.9% during the 4th quarter. Channel Wealth LLC now owns 156,435 shares of the company's stock valued at $1,700,000 after purchasing an additional 17,825 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Enovix by 36.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 47,625 shares of the company's stock valued at $518,000 after buying an additional 12,689 shares during the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Trading Down 2.1 %

Shares of ENVX traded down $0.23 during midday trading on Monday, hitting $10.72. The stock had a trading volume of 4,433,992 shares, compared to its average volume of 7,184,891. The business has a 50-day simple moving average of $10.06 and a two-hundred day simple moving average of $10.91. The firm has a market cap of $1.91 billion, a P/E ratio of -6.66 and a beta of 1.86. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.03. The firm had revenue of $4.30 million during the quarter, compared to analyst estimates of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same quarter last year, the business posted ($0.27) EPS. As a group, equities analysts forecast that Enovix Co. will post -1.17 EPS for the current year.

Insider Buying and Selling at Enovix

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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 15.70% of the company's stock.

Analysts Set New Price Targets

ENVX has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Benchmark reaffirmed a "buy" rating and issued a $25.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Janney Montgomery Scott downgraded shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price target for the company. in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Enovix from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

About Enovix

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.