Vanguard Group Inc. Boosts Holdings in Enovix Co. (NASDAQ:ENVX)

Vanguard Group Inc. grew its position in Enovix Co. (NASDAQ:ENVX) by 15.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,773,464 shares of the company’s stock after purchasing an additional 2,063,631 shares during the period. Vanguard Group Inc. owned 0.09% of Enovix worth $171,458,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ENVX. Lpwm LLC purchased a new position in Enovix during the 4th quarter worth $549,000. Stifel Financial Corp increased its holdings in shares of Enovix by 6.2% during the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after acquiring an additional 55,094 shares in the last quarter. Haven Private LLC purchased a new position in shares of Enovix in the 4th quarter valued at approximately $454,000. Register Financial Advisors LLC boosted its stake in Enovix by 172.8% in the 4th quarter. Register Financial Advisors LLC now owns 174,850 shares of the company’s stock worth $1,901,000 after purchasing an additional 110,750 shares in the last quarter. Finally, Amundi grew its position in Enovix by 360.8% during the 4th quarter. Amundi now owns 235,369 shares of the company’s stock worth $2,558,000 after purchasing an additional 184,294 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Craig Hallum lowered their price objective on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Price Performance

NASDAQ:ENVX opened at $6.31 on Monday. The firm’s fifty day moving average is $9.46 and its two-hundred day moving average is $9.97. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -4.35 and a beta of 1.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix Co. has a one year low of $5.69 and a one year high of $18.68.

Enovix (NASDAQ:ENVX) last issued its earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $9.72 million for 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%. Research analysts expect that Enovix Co. will post -1.01 EPS for the current year.

Insider Activity at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at $19,123,564.35. This trade represents a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.70% of the company’s stock.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.