International Assets Investment Management LLC Invests $4.23 Million in Enovix Co. (NASDAQ:ENVX)

International Assets Investment Management LLC purchased a new stake in Enovix Co. (NASDAQ:ENVX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 33,804 shares of the company’s stock, valued at approximately $4,230,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Beacon Capital Management LLC increased its holdings 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 purchasing an additional 1,000 shares during the period. Amalgamated Bank boosted its holdings in shares of Enovix by 5.9% in the third quarter. Amalgamated Bank now owns 20,827 shares of the company’s stock valued at $261,000 after acquiring an additional 1,154 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Enovix by 10.5% during the third quarter. Victory Capital Management Inc. now owns 14,253 shares of the company’s stock worth $179,000 after acquiring an additional 1,351 shares during the period. Insight Advisors LLC PA raised its holdings in Enovix by 3.2% during the fourth quarter. Insight Advisors LLC PA now owns 44,354 shares of the company’s stock worth $555,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in Enovix by 7.7% in the 3rd quarter. Scotia Capital Inc. now owns 19,680 shares of the company’s stock valued at $247,000 after purchasing an additional 1,410 shares in the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix Trading Up 0.9 %

Shares of Enovix stock opened at $9.08 on Thursday. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $23.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15. The business has a 50 day moving average price of $7.86 and a 200 day moving average price of $9.99. The company has a market capitalization of $1.54 billion, a P/E ratio of -6.63 and a beta of 1.70.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Enovix had a negative return on equity of 83.66% and a negative net margin of 1,448.90%. The company had revenue of $7.38 million for the quarter, compared to analysts’ expectations of $3.37 million. Sell-side analysts anticipate that Enovix Co. will post -1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on ENVX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research report on Thursday, April 25th. William Blair restated an “outperform” rating on shares of Enovix in a research report on Thursday, May 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Enovix in a report on Wednesday, February 21st. JPMorgan Chase & Co. reduced their price objective on Enovix from $18.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Finally, B. Riley lowered their target price on Enovix from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.33.

Insider Activity at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the firm’s stock in a transaction dated Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the sale, the chief operating officer now directly owns 978,913 shares of the company’s stock, valued at approximately $7,155,854.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.30% of the stock is currently owned by corporate 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.