Flputnam Investment Management Co. Has $300,000 Position in Enovix Co. (NASDAQ:ENVX)

Flputnam Investment Management Co. boosted its stake in Enovix Co. (NASDAQ:ENVX) by 61.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,976 shares of the company’s stock after purchasing an additional 9,099 shares during the quarter. Flputnam Investment Management Co.’s holdings in Enovix were worth $300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in shares of Enovix by 5.2% during the 1st quarter. JPMorgan Chase & Co. now owns 106,242 shares of the company’s stock worth $1,516,000 after purchasing an additional 5,258 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Enovix by 61.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,800 shares of the company’s stock worth $340,000 after buying an additional 9,100 shares during the period. HighTower Advisors LLC boosted its holdings in Enovix by 18.8% in the first quarter. HighTower Advisors LLC now owns 33,723 shares of the company’s stock worth $483,000 after acquiring an additional 5,335 shares in the last quarter. Citigroup Inc. grew its stake in Enovix by 129.2% in the first quarter. Citigroup Inc. now owns 20,144 shares of the company’s stock valued at $287,000 after acquiring an additional 11,355 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Enovix by 1.2% during the first quarter. BlackRock Inc. now owns 1,498,054 shares of the company’s stock valued at $21,376,000 after acquiring an additional 18,009 shares in the last quarter. 50.92% of the stock is owned by institutional investors.

Enovix Trading Down 9.4 %

NASDAQ ENVX opened at $6.01 on Friday. The company has a fifty day moving average price of $8.87 and a 200-day moving average price of $10.29. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.65. Enovix Co. has a 1 year low of $5.86 and a 1 year high of $23.90.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. The firm had revenue of $7.38 million during the quarter, compared to the consensus estimate of $3.37 million. As a group, sell-side analysts anticipate that Enovix Co. will post -1.13 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price target on shares of Enovix in a research report on Wednesday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.29.

Insider Activity at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the business’s stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total value of $36,213.74. Following the transaction, the chief operating officer now owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.30% of the stock is currently owned by company 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.