Enovix Co. (NASDAQ:ENVX) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 16.2% during the 4th 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 purchasing 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.

Several other institutional investors and hedge funds have also bought and sold shares of ENVX. Barclays PLC grew its stake in shares of Enovix by 376.9% during the 3rd quarter. Barclays PLC now owns 252,012 shares of the company's stock valued at $2,353,000 after acquiring an additional 199,166 shares during the period. Franklin Resources Inc. grew its stake in shares of Enovix by 81.4% during the 3rd quarter. Franklin Resources Inc. now owns 79,559 shares of the company's stock valued at $743,000 after acquiring an additional 35,711 shares during the period. Lpwm LLC bought a new position in shares of Enovix during the 4th quarter valued at approximately $549,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Enovix by 36.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 47,625 shares of the company's stock valued at $518,000 after acquiring an additional 12,689 shares during the period. Finally, Channel Wealth LLC grew its holdings in Enovix by 12.9% during the 4th quarter. Channel Wealth LLC now owns 156,435 shares of the company's stock valued at $1,700,000 after buying an additional 17,825 shares in the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction 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 approximately $19,123,564.35. This represents a 12.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.70% of the stock is currently owned by corporate insiders.

Enovix Trading Up 6.3%

Enovix stock traded up $0.49 during mid-day trading on Friday, hitting $8.28. The company's stock had a trading volume of 4,723,694 shares, compared to its average volume of 6,039,682. The company has a 50 day moving average of $6.96 and a 200-day moving average of $9.06. The stock has a market cap of $1.59 billion, a PE ratio of -5.71 and a beta of 1.99. 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 one year low of $5.27 and a one year high of $18.68.

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 the consensus estimate of ($0.18) by $0.01. The company had revenue of $9.72 million for the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. On average, research analysts anticipate that Enovix Co. will post -1.01 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Benchmark reduced their price objective on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. B. Riley reduced their price objective on shares of Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. TD Securities reduced their price objective 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.