Enovix Co. (NASDAQ:ENVX) Shares Purchased by Register Financial Advisors LLC

Register Financial Advisors LLC increased its stake in Enovix Co. (NASDAQ:ENVX - Free Report) by 172.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 174,850 shares of the company's stock after purchasing an additional 110,750 shares during the quarter. Enovix makes up approximately 1.0% of Register Financial Advisors LLC's portfolio, making the stock its 28th biggest holding. Register Financial Advisors LLC owned 0.10% of Enovix worth $1,901,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fred Alger Management LLC boosted its holdings in shares of Enovix by 2,468.6% in the third quarter. Fred Alger Management LLC now owns 588,614 shares of the company's stock worth $5,498,000 after acquiring an additional 565,698 shares during the period. Sora Investors LLC boosted its holdings in Enovix by 75.0% in the 3rd quarter. Sora Investors LLC now owns 525,000 shares of the company's stock valued at $4,904,000 after purchasing an additional 225,000 shares during the period. Barclays PLC grew its position in shares of Enovix by 376.9% during the 3rd quarter. Barclays PLC now owns 252,012 shares of the company's stock valued at $2,353,000 after purchasing an additional 199,166 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Enovix by 5.4% in the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company's stock worth $33,477,000 after purchasing an additional 182,757 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Enovix in the second quarter worth $1,867,000. Hedge funds and other institutional investors own 50.92% of the company's stock.

Enovix Price Performance

Shares of ENVX stock traded down $1.18 on Monday, hitting $11.14. 6,403,651 shares of the stock traded hands, compared to its average volume of 8,217,905. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -6.92 and a beta of 1.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The firm has a 50 day simple moving average of $10.30 and a two-hundred day simple moving average of $10.77. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The business had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. During the same period in the prior year, the company posted ($0.27) EPS. As a group, equities research analysts predict that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Janney Montgomery Scott cut shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price target for the company. in a research report on Thursday, October 31st. Benchmark reiterated a "buy" rating and issued a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Enovix from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enovix presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

Insider Activity

In related news, Director Betsy S. Atkins sold 75,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the completion of the transaction, the director now owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.70% of the company's stock.

Enovix Profile

Enovix Corporation designs, develops, and manufactures 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.