126,990 Shares in Enovix Co. (NASDAQ:ENVX) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in Enovix Co. (NASDAQ:ENVX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 126,990 shares of the company's stock, valued at approximately $1,380,000. Y Intercept Hong Kong Ltd owned about 0.07% of Enovix at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of 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 acquiring an additional 1,000 shares during the last quarter. Hodges Capital Management Inc. raised its position in shares of Enovix by 1.8% during the fourth quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company's stock worth $625,000 after acquiring an additional 1,000 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Enovix by 6.2% during the fourth 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 last quarter. Rockefeller Capital Management L.P. raised its position in shares of Enovix by 6.7% during the third quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company's stock worth $202,000 after acquiring an additional 1,367 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its position in shares of Enovix by 3.0% during the third quarter. Clear Creek Financial Management LLC now owns 48,200 shares of the company's stock worth $450,000 after acquiring an additional 1,400 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on ENVX. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum decreased their target price on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.30.

Enovix Stock Down 1.3 %

Enovix stock traded down $0.12 during mid-day trading on Friday, reaching $8.92. The stock had a trading volume of 7,582,626 shares, compared to its average volume of 7,068,572. 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 fifty-two week low of $5.70 and a fifty-two week high of $18.68. The stock's 50-day simple moving average is $11.22 and its 200-day simple moving average is $10.25. The firm has a market capitalization of $1.59 billion, a PE ratio of -6.15 and a beta of 1.87.

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, beating analysts' consensus estimates of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The firm had revenue of $9.72 million during the quarter, compared to analysts' expectations of $8.77 million. On average, sell-side analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling at Enovix

In related news, CEO Rajendra K. Talluri sold 300,000 shares of Enovix stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,045,301 shares of the company's stock, valued at $19,123,564.35. The trade was a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction that occurred 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 in the company, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their position. The disclosure for this sale can be found here. 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.