Fred Alger Management LLC lifted its position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 212.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,838,914 shares of the company's stock after buying an additional 1,250,300 shares during the quarter. Fred Alger Management LLC owned about 1.03% of Enovix worth $19,989,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Coppell Advisory Solutions LLC purchased a new stake in shares of Enovix during the fourth quarter valued at approximately $27,000. Fifth Third Bancorp grew its stake in Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock valued at $27,000 after acquiring an additional 1,000 shares in the last quarter. Sava Infond d.o.o. bought a new position in shares of Enovix in the fourth quarter worth $43,000. Hollencrest Capital Management raised its holdings in shares of Enovix by 61.4% in the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock valued at $57,000 after acquiring an additional 2,000 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Enovix in the 4th quarter worth $64,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.
Enovix Stock Up 0.9%
ENVX traded up $0.07 during trading on Wednesday, reaching $8.00. The stock had a trading volume of 3,086,807 shares, compared to its average volume of 6,052,792. 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 company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -5.52 and a beta of 1.99. The stock's 50 day moving average is $6.95 and its two-hundred day moving average is $9.12. 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 posted 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 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%. As a group, analysts expect that Enovix Co. will post -1.01 earnings per share for the current year.
Analyst Upgrades and Downgrades
ENVX has been the topic of a number of recent research reports. Benchmark reduced their price target 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 lowered their price objective 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. Craig Hallum lowered their price target 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, JPMorgan Chase & Co. cut their price objective on 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.27.
Check Out Our Latest Stock Report on Enovix
Insider Activity at Enovix
In related 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 value of $2,805,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. This trade 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 the SEC website. 15.70% of the stock is currently owned by insiders.
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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