Alpha DNA Investment Management LLC purchased a new position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,063 shares of the company's stock, valued at approximately $512,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Avenir Corp lifted its stake in Enovix by 33.1% in the 4th quarter. Avenir Corp now owns 38,240 shares of the company's stock valued at $416,000 after purchasing an additional 9,510 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Enovix during the 4th quarter worth about $343,000. Mariner LLC grew its stake in Enovix by 46.0% in the 4th quarter. Mariner LLC now owns 51,902 shares of the company's stock valued at $564,000 after buying an additional 16,356 shares during the last quarter. Reynders McVeigh Capital Management LLC raised its holdings in Enovix by 12.9% in the 4th quarter. Reynders McVeigh Capital Management LLC now owns 220,493 shares of the company's stock valued at $2,397,000 after acquiring an additional 25,131 shares during the period. Finally, Summit Investment Advisors Inc. lifted its position in Enovix by 19.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 17,206 shares of the company's stock worth $187,000 after acquiring an additional 2,851 shares during the last quarter. Institutional investors own 50.92% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ENVX. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Craig Hallum lowered their price target on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, Benchmark lowered their target price on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Enovix presently has an average rating of "Moderate Buy" and a consensus target price of $19.30.
Get Our Latest Report on ENVX
Insider Activity
In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of Enovix stock in a transaction dated 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 directly owns 2,045,301 shares of the company's stock, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.70% of the company's stock.
Enovix Price Performance
Shares of ENVX stock traded up $0.12 on Wednesday, reaching $6.28. The company had a trading volume of 3,072,692 shares, compared to its average volume of 6,181,620. The stock has a market capitalization of $1.20 billion, a PE ratio of -4.33 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. The business's 50-day moving average is $7.92 and its 200 day moving average is $9.64. Enovix Co. has a one year low of $5.27 and a one year high of $18.68.
Enovix (NASDAQ:ENVX - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The firm had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Equities research analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.
About Enovix
(
Free Report)
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.
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