Insider Selling: Enovix (NASDAQ:ENVX) COO Sells 18,614 Shares of Stock

Key Points

• Ajay Marathe, COO of Enovix Corporation, sold 18,614 shares at an average price of $13.00, resulting in a total transaction value of approximately $241,982.
• Enovix shares have experienced a recent decline, trading down 0.9% to $12.55, even as the company's stock has seen significant fluctuations over the past year, ranging from a low of $5.27 to a high of $16.49.
• Analysts have mixed opinions on Enovix, with five rating the stock as a "Buy," five as a "Hold," and one as a "Sell," reflecting a consensus rating of "Hold" with an average target price of $17.00.

Enovix Corporation (NASDAQ:ENVX - Get Free Report) COO Ajay Marathe sold 18,614 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $13.00, for a total transaction of $241,982.00. Following the completion of the sale, the chief operating officer owned 1,002,684 shares in the company, valued at $13,034,892. This represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ajay Marathe also recently made the following trade(s):

• On Thursday, October 2nd, Ajay Marathe sold 120,000 shares of Enovix stock. The stock was sold at an average price of $12.01, for a total value of $1,441,200.00.

Enovix Stock Down 0.9%

Shares of Enovix stock traded down $0.11 on Thursday, reaching $12.55. 4,655,474 shares of the company were exchanged, compared to its average volume of 6,771,460. Enovix Corporation has a one year low of $5.27 and a one year high of $16.49. The company has a current ratio of 4.37, a quick ratio of 4.11 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $10.33 and a 200 day moving average of $9.42. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -14.94 and a beta of 2.07.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. The business had revenue of $7.50 million during the quarter, compared to the consensus estimate of $5.48 million. Enovix had a negative return on equity of 73.88% and a negative net margin of 481.35%.Enovix's revenue for the quarter was up 98.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180--0.140 EPS. On average, equities research analysts forecast that Enovix Corporation will post -1.01 earnings per share for the current year.

Enovix announced that its board has authorized a stock buyback plan on Wednesday, July 2nd that permits the company to buyback $60.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ENVX shares. B. Riley reaffirmed a "buy" rating and issued a $17.00 price objective (up from $12.00) on shares of Enovix in a research note on Thursday, July 10th. Wall Street Zen lowered Enovix from a "hold" rating to a "sell" rating in a research report on Saturday, September 6th. Cowen restated a "hold" rating on shares of Enovix in a research note on Tuesday, July 8th. Benchmark upped their price target on Enovix from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $15.00 price objective (up previously from $12.00) on shares of Enovix in a report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Enovix has a consensus rating of "Hold" and an average target price of $17.00.

Institutional Trading of Enovix

Several institutional investors have recently bought and sold shares of the stock. Stone House Investment Management LLC acquired a new stake in shares of Enovix in the first quarter valued at approximately $37,000. Sava Infond d.o.o. lifted its stake in shares of Enovix by 50.0% in the 1st quarter. Sava Infond d.o.o. now owns 6,000 shares of the company's stock valued at $44,000 after purchasing an additional 2,000 shares during the period. HBK Sorce Advisory LLC acquired a new position in Enovix during the 1st quarter worth approximately $74,000. Smith Salley Wealth Management bought a new position in shares of Enovix in the first quarter valued at approximately $75,000. Finally, AMG National Trust Bank bought a new position in Enovix during the first quarter valued at $75,000. Institutional investors and hedge funds own 50.92% of the company's stock.

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.

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