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:ENVXFree Report) 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:ENVXGet Free Report) 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.

Get Our Latest Stock Report on ENVX

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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ENVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enovix Co. (NASDAQ:ENVXFree Report).

Institutional Ownership by Quarter for Enovix (NASDAQ:ENVX)

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