Sora Investors LLC Has $1.09 Million Stock Position in Enovix Co. (NASDAQ:ENVX)

Sora Investors LLC cut its holdings in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 81.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,999 shares of the company's stock after selling 425,001 shares during the period. Sora Investors LLC owned approximately 0.06% of Enovix worth $1,087,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Enovix by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock valued at $171,458,000 after acquiring an additional 2,063,631 shares in the last quarter. Haven Private LLC purchased a new stake in shares of Enovix in the 4th quarter valued at approximately $454,000. Register Financial Advisors LLC increased its holdings in shares of Enovix by 172.8% in the 4th quarter. Register Financial Advisors LLC now owns 174,850 shares of the company's stock valued at $1,901,000 after purchasing an additional 110,750 shares during the period. Amundi boosted its stake in shares of Enovix by 360.8% during the 4th quarter. Amundi now owns 235,369 shares of the company's stock valued at $2,558,000 after buying an additional 184,294 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Enovix in the 4th quarter valued at $1,380,000. 50.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ENVX. TD Securities reduced their target price on Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Benchmark dropped their price objective on shares of Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Craig Hallum decreased their price objective on Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. B. Riley dropped their target price on Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price target on Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Enovix currently has an average rating of "Moderate Buy" and an average price target of $17.27.

Insider Transactions at Enovix

In related news, CEO Rajendra K. Talluri sold 300,000 shares of Enovix stock in a transaction that occurred on 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. This trade represents a 12.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.70% of the stock is currently owned by insiders.

Enovix Trading Down 5.8%

Shares of ENVX stock traded down $0.45 on Wednesday, reaching $7.41. The company had a trading volume of 2,124,548 shares, compared to its average volume of 6,007,372. The stock has a market cap of $1.42 billion, a PE ratio of -5.11 and a beta of 1.99. The company has a 50-day moving average of $6.98 and a 200-day moving average of $9.05. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. Enovix Co. has a 12 month low of $5.27 and a 12 month high of $18.68.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its earnings results 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 company had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. On average, equities analysts forecast that Enovix Co. will post -1.01 earnings per share for the current year.

About Enovix

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.