Barclays PLC Has $2.35 Million Stake in Enovix Co. (NASDAQ:ENVX)

Barclays PLC increased its stake in Enovix Co. (NASDAQ:ENVX) by 376.9% in the third quarter, Holdings Channel.com reports. The firm owned 252,012 shares of the company’s stock after purchasing an additional 199,166 shares during the quarter. Barclays PLC’s holdings in Enovix were worth $2,353,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Enovix by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 573,026 shares of the company’s stock worth $8,859,000 after buying an additional 69,098 shares during the period. Principal Financial Group Inc. lifted its stake in Enovix by 7.7% in the 2nd quarter. Principal Financial Group Inc. now owns 20,079 shares of the company’s stock valued at $310,000 after acquiring an additional 1,434 shares in the last quarter. Deuterium Capital Management LLC grew its stake in shares of Enovix by 15.8% during the 2nd quarter. Deuterium Capital Management LLC now owns 183,375 shares of the company’s stock worth $2,835,000 after acquiring an additional 25,000 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Enovix during the 2nd quarter worth approximately $766,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Enovix in the second quarter valued at approximately $496,000. Institutional investors own 50.92% of the company’s stock.

Insider Transactions at Enovix

In related news, insider Arthi Chakravarthy sold 35,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the sale, the insider now directly owns 343,305 shares in the company, valued at $4,462,965. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ENVX shares. Benchmark restated a “buy” rating and set a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Janney Montgomery Scott lowered Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Enovix Trading Up 0.7 %

Shares of Enovix stock opened at $10.08 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The business has a fifty day simple moving average of $9.57 and a two-hundred day simple moving average of $11.18. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -6.26 and a beta of 1.94.

Enovix (NASDAQ:ENVX) last posted its earnings results 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 company had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. During the same quarter last year, the company posted ($0.27) EPS. Research analysts forecast that Enovix Co. will post -1.17 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.