Raymond James Financial Inc. purchased a new position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 have also recently modified their holdings of the business. Arizona State Retirement System lifted its position in Enovix by 4.5% during the fourth quarter. Arizona State Retirement System now owns 43,464 shares of the company's stock valued at $472,000 after purchasing an additional 1,856 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Enovix during the 4th quarter valued at about $183,000. Deuterium Capital Management LLC grew its stake in shares of Enovix by 9.2% during the 4th quarter. Deuterium Capital Management LLC now owns 167,526 shares of the company's stock valued at $1,855,000 after acquiring an additional 14,151 shares during the period. Victory Capital Management Inc. raised 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 worth $214,000 after acquiring an additional 1,257 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Enovix by 9.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,348,340 shares of the company's stock valued at $14,656,000 after purchasing an additional 119,288 shares in the last quarter. Institutional investors own 50.92% of the company's stock.
Enovix Price Performance
Shares of ENVX traded down $0.14 during midday trading on Monday, hitting $7.34. 5,203,156 shares of the company traded hands, compared to its average volume of 6,041,577. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -5.06 and a beta of 1.93. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68. The firm has a 50 day moving average of $9.85 and a 200-day moving average of $10.04.
Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $9.72 million for the quarter, compared to analysts' expectations of $8.77 million. On average, analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.
Insiders Place Their Bets
In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of Enovix stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,045,301 shares of the company's stock, valued at $19,123,564.35. The trade was a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.70% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on ENVX. Craig Hallum decreased their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 price target on shares of Enovix in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.30.
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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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