Invesco Ltd. Has $6.11 Million Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Invesco Ltd. decreased its position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 562,325 shares of the company's stock after selling 75,113 shares during the period. Invesco Ltd. owned about 0.32% of Enovix worth $6,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ENVX. Fifth Third Bancorp raised its position in Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock valued at $27,000 after purchasing an additional 1,000 shares during the last quarter. Sava Infond d.o.o. bought a new stake in Enovix during the 4th quarter worth about $43,000. Hollencrest Capital Management lifted its position in Enovix by 61.4% during the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock valued at $57,000 after purchasing an additional 2,000 shares during the period. R Squared Ltd acquired a new stake in shares of Enovix during the 4th quarter worth approximately $64,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Enovix during the fourth quarter worth approximately $65,000. Institutional investors own 50.92% of the company's stock.

Analyst Ratings Changes

ENVX has been the subject of several recent research reports. Craig Hallum dropped their target price on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. 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. JPMorgan Chase & Co. cut their price target on shares of Enovix from $15.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Benchmark lowered their target price on shares of Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, B. Riley reduced their price target on shares of Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.40.

Insider Buying and Selling 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 sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.70% of the company's stock.

Enovix Stock Down 2.7 %

Shares of Enovix stock traded down $0.18 during trading on Thursday, reaching $6.52. The stock had a trading volume of 3,452,697 shares, compared to its average volume of 6,144,379. 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 $1.25 billion, a price-to-earnings ratio of -4.49 and a beta of 1.98. Enovix Co. has a 52 week low of $5.27 and a 52 week high of $18.68. The stock has a fifty day moving average price of $7.38 and a two-hundred day moving average price of $9.43.

Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Sell-side analysts predict that Enovix Co. will post -1.01 EPS for the current fiscal year.

Enovix 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.