Enovix Co. (NASDAQ:ENVX) Shares Acquired by Comerica Bank

Comerica Bank raised its position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 309.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 49,480 shares of the company's stock after purchasing an additional 37,387 shares during the quarter. Comerica Bank's holdings in Enovix were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Lpwm LLC acquired a new stake in Enovix in the fourth quarter worth $549,000. Vanguard Group Inc. grew its holdings in Enovix by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock worth $171,458,000 after purchasing an additional 2,063,631 shares during the period. Haven Private LLC acquired a new position in shares of Enovix during the fourth quarter worth approximately $454,000. Register Financial Advisors LLC raised its position in shares of Enovix by 172.8% during the fourth quarter. Register Financial Advisors LLC now owns 174,850 shares of the company's stock worth $1,901,000 after purchasing an additional 110,750 shares during the period. Finally, Amundi raised its position in shares of Enovix by 360.8% during the fourth quarter. Amundi now owns 235,369 shares of the company's stock worth $2,558,000 after purchasing an additional 184,294 shares during the period. Institutional investors own 50.92% of the company's stock.

Enovix Stock Performance

ENVX stock traded down $0.42 on Monday, hitting $7.86. The company had a trading volume of 2,475,750 shares, compared to its average volume of 6,026,028. Enovix Co. has a 12-month low of $5.27 and a 12-month high of $18.68. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The stock's 50-day simple moving average is $6.96 and its 200 day simple moving average is $9.06. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -5.42 and a beta of 1.99.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $9.72 million for the quarter, compared to analysts' expectations of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. As a group, equities research analysts expect that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

Insider Activity at Enovix

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were 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 in the company, valued at approximately $19,123,564.35. This represents a 12.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ENVX has been the topic of several recent research reports. TD Securities dropped their price target on shares of Enovix from $10.00 to $7.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Benchmark lowered their price objective on shares of Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Craig Hallum decreased their price target on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, B. Riley decreased their price target on shares of Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $17.27.

Enovix Company Profile

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.