320,558 Shares in Enovix Co. (NASDAQ:ENVX) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 320,558 shares of the company's stock, valued at approximately $3,484,000. Raymond James Financial Inc. owned about 0.18% of Enovix at the end of the most recent reporting period.

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

Enovix Trading Up 4.6 %

ENVX traded up $0.29 during midday trading on Friday, reaching $6.43. 2,002,787 shares of the company were exchanged, compared to its average volume of 6,212,755. The stock has a market capitalization of $1.23 billion, a P/E ratio of -4.44 and a beta of 1.98. Enovix Co. has a one year low of $5.27 and a one year high of $18.68. The stock's 50-day simple moving average is $7.30 and its 200 day simple moving average is $9.38. 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 (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings data 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. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The business had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. As a group, analysts forecast that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

Insider Activity

In other Enovix 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 transaction of $2,805,000.00. Following the transaction, the chief executive officer now directly owns 2,045,301 shares in the company, 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 SEC, which is accessible through this link. 15.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ENVX has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday. Benchmark decreased their price objective on Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. TD Securities dropped their target price on Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a research report on Thursday. Craig Hallum cut their price target on Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of Enovix in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.27.

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.