Enovix Co. (NASDAQ:ENVX) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 15.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,773,464 shares of the company's stock after purchasing an additional 2,063,631 shares during the quarter. Vanguard Group Inc. owned about 8.86% of Enovix worth $171,458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENVX. Raymond James Financial Inc. acquired a new position in Enovix in the fourth quarter valued at approximately $3,484,000. Barclays PLC increased its stake in Enovix by 376.9% during the third quarter. Barclays PLC now owns 252,012 shares of the company's stock worth $2,353,000 after acquiring an additional 199,166 shares during the last quarter. Amundi raised its position in Enovix by 360.8% in the fourth quarter. Amundi now owns 235,369 shares of the company's stock valued at $2,558,000 after purchasing an additional 184,294 shares during the period. Geode Capital Management LLC lifted its stake in shares of Enovix by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company's stock valued at $33,477,000 after purchasing an additional 182,757 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Enovix during the 4th quarter worth $1,380,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ENVX shares. Craig Hallum reduced their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of Enovix in a research note on Thursday, February 20th. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.30.

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Insider Buying and Selling

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the transaction, the chief executive officer now owns 2,045,301 shares of the company's stock, valued at $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 15.70% of the company's stock.

Enovix Stock Up 1.0 %

Enovix stock traded up $0.06 during mid-day trading on Friday, reaching $5.98. 5,625,653 shares of the company's stock were exchanged, compared to its average volume of 6,239,809. The company has a fifty day moving average of $8.66 and a 200-day moving average of $9.83. The company has a market cap of $1.14 billion, a P/E ratio of -4.12 and a beta of 1.98. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. Enovix Co. has a twelve month low of $5.27 and a twelve 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) 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 analysts' expectations of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. Sell-side analysts expect that Enovix Co. will post -1.01 EPS for the current year.

About Enovix

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.