Hollencrest Capital Management Acquires 2,000 Shares of Enovix Co. (NASDAQ:ENVX)

Hollencrest Capital Management raised its stake in shares of Enovix Co. (NASDAQ:ENVX) by 61.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,256 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Hollencrest Capital Management’s holdings in Enovix were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Lpwm LLC purchased a new position in Enovix during the fourth quarter worth $549,000. Oppenheimer & Co. Inc. lifted its stake in Enovix by 52.2% in the third quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock worth $2,541,000 after purchasing an additional 93,303 shares during the last quarter. Stifel Financial Corp boosted its position 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 buying an additional 55,094 shares during the period. Haven Private LLC bought a new position in shares of Enovix during the fourth quarter valued at approximately $454,000. Finally, Register Financial Advisors LLC lifted its stake in shares of Enovix by 172.8% during the 4th quarter. Register Financial Advisors LLC now owns 174,850 shares of the company’s stock worth $1,901,000 after acquiring an additional 110,750 shares during the last quarter. 50.92% of the stock is owned by institutional investors.

Enovix Stock Up 1.7 %

Shares of ENVX stock opened at $7.58 on Thursday. 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 fifty-two week low of $5.70 and a fifty-two week high of $18.68. The firm has a market capitalization of $1.45 billion, a PE ratio of -5.23 and a beta of 1.94. The stock’s 50-day simple moving average is $10.81 and its 200-day simple moving average is $10.13.

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

Insiders Place Their Bets

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the company’s 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 in the company, valued at $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 15.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Enovix Company 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.