Northern Trust Corp increased its stake in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 16.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,519,960 shares of the company's stock after buying an additional 211,959 shares during the period. Northern Trust Corp owned about 0.85% of Enovix worth $16,522,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ENVX. Vanguard Group Inc. grew its stake in Enovix by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock valued at $171,458,000 after acquiring an additional 2,063,631 shares in the last quarter. Geode Capital Management LLC lifted its position in Enovix by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock valued at $41,520,000 after purchasing an additional 235,142 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Enovix by 9.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,348,340 shares of the company's stock worth $14,656,000 after acquiring an additional 119,288 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Enovix by 1.4% in the 4th quarter. Stifel Financial Corp now owns 963,864 shares of the company's stock worth $10,477,000 after acquiring an additional 13,662 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Enovix by 4.6% in the 4th quarter. Wells Fargo & Company MN now owns 922,783 shares of the company's stock worth $10,031,000 after acquiring an additional 40,420 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company's stock.
Enovix Price Performance
ENVX traded down $0.23 during trading on Tuesday, reaching $7.73. 357,833 shares of the company traded hands, compared to its average volume of 6,000,641. The firm has a fifty day simple moving average of $6.97 and a 200 day simple moving average of $9.05. Enovix Co. has a 12-month low of $5.27 and a 12-month high of $18.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The company has a market cap of $1.48 billion, a P/E ratio of -5.33 and a beta of 1.99.
Enovix (NASDAQ:ENVX - Get Free Report) last released its 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. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. On average, equities analysts forecast that Enovix Co. will post -1.01 EPS for the current year.
Insider Transactions at Enovix
In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 15.70% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. TD Securities lowered their price target on shares of Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Benchmark lowered their price target on shares of Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Finally, 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 research report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.27.
View Our Latest Stock Report on Enovix
Enovix Company Profile
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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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