Game Plan Financial Advisors LLC Purchases 4,000 Shares of Enovix Co. (NASDAQ:ENVX)

Game Plan Financial Advisors LLC lifted its stake in shares of Enovix Co. (NASDAQ:ENVX) by 65.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,135 shares of the company’s stock after acquiring an additional 4,000 shares during the period. Game Plan Financial Advisors LLC’s holdings in Enovix were worth $81,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Beacon Capital Management LLC raised its position in Enovix by 66.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares during the period. Able Wealth Management LLC purchased a new position in shares of Enovix in the fourth quarter valued at about $34,000. Quest Partners LLC purchased a new position in shares of Enovix in the fourth quarter valued at about $49,000. Voisard Asset Management Group Inc. purchased a new position in shares of Enovix in the fourth quarter valued at about $50,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Enovix by 106.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,866 shares of the company’s stock valued at $111,000 after acquiring an additional 4,569 shares during the period. 50.92% of the stock is owned by institutional investors.

Insider Activity at Enovix

In related news, COO Ajay Marathe sold 4,954 shares of the stock in a transaction that occurred on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the transaction, the chief operating officer now owns 978,913 shares in the company, valued at $7,155,854.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Enovix news, Director Gregory Reichow sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total transaction of $91,050.00. Following the completion of the sale, the director now directly owns 8,129 shares of the company’s stock, valued at $98,686.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Ajay Marathe sold 4,954 shares of the company’s stock in a transaction that occurred on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the sale, the chief operating officer now directly owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The disclosure for this sale can be found here. 17.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ENVX. Craig Hallum decreased their price objective on shares of Enovix from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, April 25th. B. Riley reduced their price target on shares of Enovix from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. JPMorgan Chase & Co. reduced their price target on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Finally, William Blair reiterated an “outperform” rating on shares of Enovix in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Enovix Stock Down 0.1 %

Shares of NASDAQ ENVX traded down $0.01 during midday trading on Monday, hitting $11.99. The stock had a trading volume of 1,403,867 shares, compared to its average volume of 4,980,317. The business’s 50 day moving average is $9.51 and its 200-day moving average is $10.01. The company has a market cap of $2.04 billion, a P/E ratio of -9.07 and a beta of 1.95. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $23.90. The company has a quick ratio of 4.77, a current ratio of 4.89 and a debt-to-equity ratio of 0.72.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The company had revenue of $5.27 million for the quarter, compared to the consensus estimate of $4.16 million. Enovix had a negative net margin of 1,448.90% and a negative return on equity of 85.47%. As a group, analysts predict that Enovix Co. will post -1.15 EPS for the current year.

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.