Enovix Co. (NASDAQ:ENVX) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in shares of Enovix Co. (NASDAQ:ENVX) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,928,993 shares of the company’s stock after acquiring an additional 513,508 shares during the quarter. Vanguard Group Inc. owned 0.08% of Enovix worth $161,871,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Enovix by 8.2% during the fourth quarter. Wellington Management Group LLP now owns 628,712 shares of the company’s stock worth $7,871,000 after acquiring an additional 47,853 shares during the period. Electron Capital Partners LLC boosted its holdings in Enovix by 20.0% during the fourth quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock worth $40,556,000 after buying an additional 540,399 shares in the last quarter. Able Wealth Management LLC purchased a new position in Enovix in the fourth quarter valued at about $34,000. Clarity Capital Partners LLC purchased a new stake in shares of Enovix during the 4th quarter worth approximately $1,643,000. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Enovix in the 4th quarter worth approximately $50,000. 50.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENVX has been the subject of several recent research reports. Canaccord Genuity Group restated a “buy” rating and set a $17.00 target price on shares of Enovix in a report on Thursday, June 27th. B. Riley raised Enovix to a “strong-buy” rating in a report on Tuesday, June 25th. Craig Hallum decreased their price objective on Enovix from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of Enovix in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $18.33.

Insider Activity

In other Enovix news, Director Gregory Reichow sold 7,500 shares of the business’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 in the company, valued at $98,686.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Enovix 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 value of $36,213.74. Following the completion of the sale, the chief operating officer now owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Reichow sold 7,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $12.14, for a total transaction of $91,050.00. Following the transaction, the director now directly owns 8,129 shares in the company, valued at $98,686.06. The disclosure for this sale can be found here. Corporate insiders own 17.30% of the company’s stock.

Enovix Trading Up 7.7 %

Shares of ENVX stock opened at $15.28 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.89 and a quick ratio of 4.77. The firm has a market cap of $2.60 billion, a P/E ratio of -11.40 and a beta of 2.04. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $23.90. The firm’s 50-day simple moving average is $10.88 and its 200-day simple moving average is $10.16.

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

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.