Private Advisor Group LLC Has $933,000 Stock Position in Enovix Co. (NASDAQ:ENVX)

Private Advisor Group LLC boosted its position in Enovix Co. (NASDAQ:ENVX) by 23.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 99,900 shares of the company’s stock after purchasing an additional 19,056 shares during the period. Private Advisor Group LLC owned about 0.06% of Enovix worth $933,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in Enovix by 102.1% in the 2nd quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after purchasing an additional 957 shares during the last quarter. GAMMA Investing LLC lifted its stake in Enovix by 11,176.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock valued at $37,000 after purchasing an additional 2,347 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Enovix in the 2nd quarter valued at about $39,000. Beacon Capital Management LLC lifted its stake in Enovix by 71.9% in the 1st quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock valued at $34,000 after purchasing an additional 1,798 shares during the last quarter. Finally, Voisard Asset Management Group Inc. lifted its stake in Enovix by 25.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock valued at $77,000 after purchasing an additional 1,000 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Price Performance

ENVX stock opened at $9.04 on Friday. The company’s fifty day simple moving average is $10.03 and its 200 day simple moving average is $11.07. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -5.61 and a beta of 1.98. The company has a quick ratio of 3.84, a current ratio of 3.98 and a debt-to-equity ratio of 0.97.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 96.23%. The firm had revenue of $4.30 million for the quarter, compared to analyst estimates of $4.11 million. During the same quarter in the prior year, the business earned ($0.27) earnings per share. On average, analysts expect that Enovix Co. will post -1.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

ENVX has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Wednesday. TD Cowen raised their price objective on shares of Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (down from $23.00) on shares of Enovix in a research report on Monday, August 5th. Finally, Oppenheimer restated an “outperform” rating and set a $36.00 price objective on shares of Enovix in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insider Activity

In other news, insider Arthi Chakravarthy sold 35,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the transaction, the insider now owns 343,305 shares in the company, valued at approximately $4,462,965. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.70% of the company’s stock.

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.