Sora Investors LLC Lowers Position in Enovix Co. (NASDAQ:ENVX)

Sora Investors LLC reduced its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 81.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,999 shares of the company's stock after selling 425,001 shares during the quarter. Sora Investors LLC owned 0.06% of Enovix worth $1,087,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock worth $27,000 after purchasing an additional 1,000 shares in the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Enovix in the 4th quarter valued at about $27,000. Sava Infond d.o.o. bought a new stake in shares of Enovix in the 4th quarter valued at about $43,000. Hollencrest Capital Management lifted its stake in shares of Enovix by 61.4% in the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock valued at $57,000 after acquiring an additional 2,000 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Enovix in the 4th quarter valued at about $64,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. B. Riley lowered their target price on Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Craig Hallum lowered their target price on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Benchmark lowered their target price on Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, TD Securities lowered their price target on Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.27.

Enovix Stock Down 3.9%

Shares of ENVX stock traded down $0.32 during midday trading on Monday, reaching $7.96. 3,864,408 shares of the stock were exchanged, compared to its average volume of 6,030,998. Enovix Co. has a 1 year low of $5.27 and a 1 year high of $18.68. The company's 50 day moving average is $6.96 and its two-hundred day moving average is $9.06. 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 firm has a market cap of $1.53 billion, a PE ratio of -5.49 and a beta of 1.99.

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 analysts' consensus estimates of ($0.18) by $0.01. The firm had revenue of $9.72 million for the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. On average, equities research analysts predict that Enovix Co. will post -1.01 EPS for the current year.

Insider Buying and Selling at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction on 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 of the company's stock, valued at $19,123,564.35. This represents a 12.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 15.70% of the company's stock.

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.