Amundi Has $2.56 Million Stock Position in Enovix Co. (NASDAQ:ENVX)

Amundi grew its position in Enovix Co. (NASDAQ:ENVX) by 360.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 235,369 shares of the company’s stock after purchasing an additional 184,294 shares during the period. Amundi’s holdings in Enovix were worth $2,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after buying an additional 1,000 shares during the period. Hodges Capital Management Inc. increased its stake in shares of Enovix by 1.8% in the 4th quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company’s stock valued at $625,000 after buying an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC boosted its position in shares of Enovix by 6.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock worth $228,000 after purchasing an additional 1,214 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Enovix by 6.8% in the 4th quarter. Victory Capital Management Inc. now owns 19,695 shares of the company’s stock worth $214,000 after purchasing an additional 1,257 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Enovix by 6.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock worth $202,000 after purchasing an additional 1,367 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum reduced their price target on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Enovix Stock Performance

ENVX stock opened at $7.65 on Monday. The firm has a market cap of $1.46 billion, a PE ratio of -5.28 and a beta of 1.93. The business’s 50-day moving average price is $10.61 and its two-hundred day moving average price is $10.09. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. As a group, research analysts forecast that Enovix Co. will post -1.01 earnings per share for the current year.

Insider Activity

In related news, CEO Rajendra K. Talluri sold 300,000 shares of Enovix stock in a transaction dated 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 sale, the chief executive officer now owns 2,045,301 shares of the company’s stock, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.70% of the company’s stock.

About Enovix

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.