Quest Partners LLC bought a new position in Enovix Co. (NASDAQ:ENVX – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,910 shares of the company’s stock, valued at approximately $49,000.
Other hedge funds have also added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its position in shares of Enovix by 66.7% in the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock valued at $31,000 after acquiring an additional 1,000 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Enovix in the 3rd quarter valued at $31,000. Cidel Asset Management Inc. purchased a new position in shares of Enovix during the 3rd quarter valued at $131,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Enovix in the third quarter worth $133,000. Finally, Robertson Stephens Wealth Management LLC purchased a new stake in shares of Enovix in the third quarter worth $134,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.
A number of equities analysts have weighed in on ENVX shares. William Blair restated an “outperform” rating on shares of Enovix in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Thursday, April 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Enovix in a report on Wednesday, February 21st. Craig Hallum reduced their target price on Enovix from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, B. Riley dropped their price target on Enovix from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.33.
In other Enovix news, COO Ajay Marathe sold 4,954 shares of the firm’s stock in a transaction on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total value of $36,213.74. Following the sale, the chief operating officer now owns 978,913 shares of the company’s stock, valued at approximately $7,155,854.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.30% of the stock is currently owned by company insiders.
ENVX opened at $11.18 on Friday. Enovix Co. has a 12 month low of $5.70 and a 12 month high of $23.90. The company has a current ratio of 4.89, a quick ratio of 4.77 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $8.24 and its 200-day moving average price is $9.99.
Enovix (NASDAQ:ENVX – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The company had revenue of $5.27 million during the quarter, compared to analysts’ expectations of $4.16 million. Enovix had a negative return on equity of 85.47% and a negative net margin of 1,448.90%. On average, analysts expect that Enovix Co. will post -1.15 EPS for the current year.
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.
• Five stocks we like better than Enovix
• When to Sell a Stock for Profit or Loss
• Pure Storage Stock Spikes and Analysts are Jumping on Board
• How to Read Stock Charts for Beginners
• Should You Add These Warren Buffett Stocks to Your Portfolio?
• Salesforce Falls 25% Into A Once in a Lifetime Opportunity
Receive News & Ratings for Enovix Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Enovix and related companies with MarketBeat.com’s FREE daily email newsletter.…Read more by Defense World Staff
