Frontier Capital Management Co. LLC bought a new stake in Enovix Co. (NASDAQ:ENVX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 312,491 shares of the company's stock, valued at approximately $3,397,000. Frontier Capital Management Co. LLC owned about 0.18% of Enovix at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings 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. Hodges Capital Management Inc. increased its position in shares of Enovix by 1.8% in the 4th quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company's stock valued at $625,000 after acquiring an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC lifted its position in Enovix by 6.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company's stock worth $228,000 after acquiring an additional 1,214 shares during the period. Victory Capital Management Inc. grew its stake in Enovix by 6.8% during the 4th quarter. Victory Capital Management Inc. now owns 19,695 shares of the company's stock valued at $214,000 after purchasing an additional 1,257 shares during the last quarter. Finally, Nwam LLC increased its holdings in shares of Enovix by 14.0% in the fourth quarter. Nwam LLC now owns 11,907 shares of the company's stock valued at $129,000 after purchasing an additional 1,458 shares during the period. 50.92% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Enovix
In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value 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 $19,123,564.35. This trade represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.70% of the stock is currently owned by insiders.
Enovix Trading Down 1.6%
ENVX stock traded down $0.12 during midday trading on Thursday, hitting $7.87. The stock had a trading volume of 1,750,969 shares, compared to its average volume of 6,017,959. The firm has a market cap of $1.51 billion, a PE ratio of -5.46 and a beta of 1.99. The company's 50-day moving average price is $6.94 and its 200 day moving average price is $9.11. 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 current ratio of 3.77 and a quick ratio of 3.61.
Enovix (NASDAQ:ENVX - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. The business had revenue of $9.72 million during 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%. On average, equities research analysts predict that Enovix Co. will post -1.01 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of Enovix in a research report on Thursday, February 20th. B. Riley dropped their target price 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. 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 note on Thursday, February 20th. Benchmark lowered their target price on Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, TD Securities cut 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.27.
Read Our Latest Research Report on Enovix
Enovix Company Profile
(
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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