Gilder Gagnon Howe & Co. LLC Sells 50,989 Shares of Enovix Co. (NASDAQ:ENVX)

Gilder Gagnon Howe & Co. LLC lowered its stake in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,871 shares of the company's stock after selling 50,989 shares during the period. Gilder Gagnon Howe & Co. LLC owned approximately 0.29% of Enovix worth $5,651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in shares of Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock worth $27,000 after buying an additional 1,000 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Enovix in the 4th quarter worth about $27,000. Sava Infond d.o.o. bought a new position in shares of Enovix during the fourth quarter worth about $43,000. Hollencrest Capital Management increased its holdings in Enovix by 61.4% in the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock valued at $57,000 after buying an additional 2,000 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Enovix during the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 50.92% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. B. Riley cut their target price on shares of Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their price target on Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday. Craig Hallum reduced their price objective on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, Benchmark cut their target price on Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.27.

Enovix Stock Performance

Enovix stock traded down $0.56 on Thursday, reaching $6.14. 13,593,440 shares of the stock were exchanged, compared to its average volume of 6,275,835. 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 firm has a fifty day moving average price of $7.38 and a two-hundred day moving average price of $9.43. The stock has a market cap of $1.18 billion, a PE ratio of -4.23 and a beta of 1.98. 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 announced its quarterly 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. The firm had revenue of $9.72 million for 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 anticipate that Enovix Co. will post -1.01 EPS for the current year.

Insider Buying and Selling

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.70% of the stock is owned by corporate insiders.

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.