Enovix Co. (NASDAQ:ENVX) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC boosted its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,251 shares of the company’s stock after purchasing an additional 17,351 shares during the period. Private Advisor Group LLC owned approximately 0.07% of Enovix worth $1,275,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ENVX. Fifth Third Bancorp boosted its holdings in shares of Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after buying an additional 1,000 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Enovix during the 3rd quarter worth about $27,000. R Squared Ltd acquired a new stake in Enovix in the fourth quarter valued at approximately $64,000. Voisard Asset Management Group Inc. increased its position in Enovix by 40.0% during the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock worth $65,000 after buying an additional 2,000 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in Enovix by 318.5% during the third quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock valued at $77,000 after purchasing an additional 6,294 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors.

Insider Activity

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the transaction, the director now owns 99,497 shares of the company’s stock, valued at $968,105.81. The trade was a 42.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ENVX. Craig Hallum decreased their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Finally, Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Trading Down 6.1 %

ENVX stock opened at $9.04 on Friday. The business has a fifty day moving average of $11.24 and a 200-day moving average of $10.26. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.61 billion, a P/E ratio of -6.23 and a beta of 1.87. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68.

Enovix (NASDAQ:ENVX) last issued its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The company had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. As a group, equities research analysts expect that Enovix Co. will post -1.01 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.