Avantax Advisory Services Inc. Raises Holdings in Enovix Co. (NASDAQ:ENVX)

Avantax Advisory Services Inc. lifted its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 82.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 60,162 shares of the company’s stock after acquiring an additional 27,274 shares during the period. Avantax Advisory Services Inc.’s holdings in Enovix were worth $654,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Lpwm LLC purchased a new stake in Enovix in the fourth quarter valued at approximately $549,000. Stifel Financial Corp boosted its position in Enovix by 6.2% in the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after buying an additional 55,094 shares during the last quarter. Haven Private LLC purchased a new stake in Enovix in the fourth quarter valued at approximately $454,000. Register Financial Advisors LLC boosted its position in Enovix by 172.8% in the fourth quarter. Register Financial Advisors LLC now owns 174,850 shares of the company’s stock valued at $1,901,000 after buying an additional 110,750 shares during the last quarter. Finally, Amundi boosted its position in Enovix by 360.8% in the fourth quarter. Amundi now owns 235,369 shares of the company’s stock valued at $2,558,000 after buying an additional 184,294 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Trading Up 6.2 %

Shares of ENVX stock opened at $8.45 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. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -5.83 and a beta of 1.93. The stock has a 50 day simple moving average of $10.17 and a 200-day simple moving average of $10.03. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68.

Enovix (NASDAQ:ENVX) last announced its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business 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%. On average, equities research analysts expect that Enovix Co. will post -1.01 EPS for the current fiscal year.

Insider Transactions at Enovix

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ENVX. Craig Hallum dropped their target price on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Enovix currently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

About Enovix

Enovix Corporation designs develops and manufactures silicon-anode 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.