By otakuyassine3@gmail.com 
R Squared Ltd bought a new stake in shares of Enovix Co. (NASDAQ:ENVX – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,860 shares of the company’s stock, valued at approximately $64,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Prospera Private Wealth LLC bought a new stake in Enovix in the 3rd quarter worth about $27,000. Fifth Third Bancorp boosted its holdings in shares of Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Voisard Asset Management Group Inc. grew its stake in shares of Enovix by 40.0% in the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock worth $65,000 after acquiring an additional 2,000 shares during the period. Quest Partners LLC raised its holdings in shares of Enovix by 318.5% during the third quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock valued at $77,000 after purchasing an additional 6,294 shares during the last quarter. Finally, Secure Asset Management LLC bought a new position in Enovix during the third quarter valued at approximately $97,000. Institutional investors own 50.92% of the company’s stock.
Insiders Place Their Bets
In related news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction dated 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 sale, the director now owns 99,497 shares in the company, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.70% of the stock is currently owned by company insiders.
Enovix Trading Down 2.6 %
Enovix stock opened at $12.06 on Friday. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -7.49 and a beta of 1.86. The firm has a 50 day moving average of $10.58 and a 200 day moving average of $10.65. 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 (NASDAQ:ENVX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The firm had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. During the same period in the prior year, the company posted ($0.27) earnings per share. As a group, research analysts predict that Enovix Co. will post -1.17 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms have commented on ENVX. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a report on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.50.
View Our Latest Research Report on Enovix
About Enovix
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.
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