M&T Bank Corp Acquires Shares of 16,790 Enovix Co. (NASDAQ:ENVX)

M&T Bank Corp acquired a new stake in Enovix Co. (NASDAQ:ENVX) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 16,790 shares of the company’s stock, valued at approximately $183,000.

Other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of Enovix during the 3rd quarter worth approximately $27,000. Fifth Third Bancorp boosted its stake in shares of Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Enovix during the 4th quarter worth approximately $64,000. Quest Partners LLC boosted its stake in shares of Enovix by 318.5% during the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock worth $77,000 after acquiring an additional 6,294 shares in the last quarter. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of Enovix during the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Trading Up 6.1 %

Shares of Enovix stock opened at $7.65 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. 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 $1.46 billion, a P/E ratio of -5.28 and a beta of 1.94. The business has a 50 day moving average price of $10.61 and a 200 day moving average price of $10.09.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. The company had revenue of $9.72 million during 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%. Sell-side analysts anticipate that Enovix Co. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENVX has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Enovix in a research note on Thursday, February 20th. Craig Hallum decreased their price target on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Buying and Selling at Enovix

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 15.70% of the stock is currently owned by insiders.

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.